Page 21 - Latest Updates on New GDP series

UK economy may fall further behind euro area next year, forecast suggests

Gross domestic product is expected to grow by 0.6% in 2024, well below the 1% gain anticipated in the euro area, a monthly survey of economists by Bloomberg showed

IMF sees 'pockets of resilience,' slowing momentum in global economy

Reduced supply chain disruptions and lower goods demand means likely disinflationary pressures from goods, the IMF said

Programmers using AI tools to boost global GDP by over $1.5 trn: Study

Artificial intelligence will help global economy and create demand for software developers, says GitHub

India's current account balance likely turned to surplus in Jan-March: Poll

The latest survey of 22 economists showed the current account balance likely recorded a surplus of $3.3 billion, or 0.4% of gross domestic product (GDP), in the last quarter of the 2022/23 fiscal year

Rs 2,000 note withdrawal can boost growth by pushing consumption: Report

The Rs 2,000 note withdrawal decision and response to it so far suggest that the move can help boost FY24 GDP growth to beyond 6.5 per cent estimated by the RBI, a report said on Monday. The real GDP growth for the first quarter of FY24 will come at 8.1 per cent with an upward bias and the Reserve Bank of India's 6.5 per cent estimate can also be exceeded, economists at the country's largest lender SBI said. "We expect Q1 FY24 GDP growth at 8.1 per cent with an upward bias due to the impact of Rs 2000 note withdrawal event...this reinforces our projection that FY24 GDP could be higher than 6.5 per cent, basis the RBI estimate," a note said. It can be noted that earlier this month, the RBI informed that over half of the currency notes in the denomination have returned back, with 85 per cent of it coming as deposits into banks, while the remaining 15 per cent have been exchanged at bank counters. Based on this experience, the SBI note said the consumption can get a Rs 55,000 crore bo

India to see a downward trend in its debt burden: Moody's Investors Service

Moody's has a 'Baa3' sovereign credit rating on India, with a stable outlook. Baa3 is the lowest investment grade rating

Growth driver

Expanding internet economy will increase opportunities

Seeking 'accuracy': Govt to come up with fresh logistics cost estimate soon

Initial indications suggest a number lower than 14-16%, says senior official

Moody's sees India's GDP expanding 6-6.3% in Q1, flags fiscal slippage risk

Moody's on Sunday said the Indian economy is expected to clock a 6-6.3 per cent growth in June quarter, and flagged risks of fiscal slippage arising from weaker-than-expected government revenues in the current fiscal. Moody's growth estimate is lower than the 8 per cent projection for the first quarter made by the Reserve Bank last week. In an interview with PTI, Moody's Investors Service Associate Managing Director Gene Fang said India has a relatively high level of general government debt at around 81.8 per cent of GDP for 2022-23, and low debt affordability. India, he said, has a high growth potential and its credit strengths include a stable domestic financing base for government debt, as well as a sound external position. "We expect India's growth to come in around 6-6.3 per cent in the first quarter of the current fiscal year, which remains relatively flat from the 6.1 per cent recorded in the final quarter of fiscal 2022-23," Fang said. While household demand is likely to s

India's GDP growth for FY23 likely to be over 7.2%, says CEA Nageswaran

Private consumption as a share of GDP was at a 16-year high, the CEA added

Domestic GDP growth on firm footing, growth slightly revised upwards: SBI

Country's largest commercial lender State Bank of India (SBI) said that domestic GDP growth is now on firm footing with urban demand showing good traction, while the lagging rural demand is a cause of concern. The apex bank has also revised GDP growth marginally upwards from 6.4 per cent to 6.5 per cent for the current financial year. In its 'Ecowrap' research report, SBI said that the GDP growth forecast of the apex bank RBI for the current fiscal has undergone some change since April 2023. While RBI had projected GDP growth at 6.4 per cent in April, this has been slightly revised upwards to 6.5 per cent for the current fiscal, as announced in the latest Monetary Policy Committee (MPC) meeting which concluded on June eight. Inflation for the current financial year has been pegged by 5.1 per cent by the apex bank, perceived to be above the tolerance band of RBI at four per cent. The report said that the series of rate hikes in the recent past had resulted in falling unemployment r

India planning fewer annual GDP estimates to avoid confusing markets

The proposal is being discussed between the ministries of statistics and finance as well as top officials from Prime Minister Narendra Modi's government

Eurozone slips into recession after GDP shrinks 0.1% in Jan-Mar: Report

The Eurozone has fallen into recession, new data show, as its economy contracted over the winter, according to a media report

Russia's GDP projected to grow by 1% through 2023: Finance Minister Anton

Russia's GDP is projected to grow by 1 per cent this year, accompanied by an anticipated increase in real income for the population, Finance Minister Anton Siluanov said on Tuesday.

5 states project their economies to grow slower than national GDP in FY'23

So far, only 15 states have revealed their projections for the gross state domestic product for 2022-23

GST collection to car sales: May data paints healthy picture of economy

GST collection, car sales post robust numbers

India's FY24 GDP data: Spate of forecast hikes, but not all agree

Some say El Niño conditions may prove to be a headwind for the economy

Canada's real GDP grew by 0.2% in April, 0.8% in first quarter this year

Canada's real gross domestic product (GDP) grew 0.2 per cent in April and 0.8 per cent in the first quarter this year, the statistical agency said in its advance estimates

India's GDP grows 6.1% in Q4, 7.2% in 2022-23; beats analysts' expectations

Manufacturing and construction sectors surprise on the upside

GDP data shows Indian economy moving at faster pace, says experts

GDP data released on Wednesday clearly indicates that the Indian economy is moving at a faster clip from the March quarters onwards, with sectors like manufacturing and agriculture pushing the overall economic activities, according to industry associations and experts. The economy grew by 6.1 per cent in the March quarter of 2022-23, pushing the annual growth rate to 7.2 per cent. The growth has propelled the country's economy to USD 3.3 trillion, setting the stage for achieving the USD 5 trillion target in the next few years. In 2021-22, the economy grew by 9.1 per cent. "Looking into the fine print of the GDP data for 2022-23, a clear signal is available that the Indian economy has moved at a faster clip from the fourth quarter of FY23 in key sectors like manufacturing, construction and financial services," industry body Assocham's Secretary General Deepak Sood said. Going forward, he said the momentum is likely to continue given softening of raw material prices, including crude