STCI Primary Dealer Ltd
|
|
- Ruth Goodwin
- 6 years ago
- Views:
Transcription
1 Macroeconomic Update: GDP Q3 FY18 Beating expectations, India s Real GDP noted a sharp rebound, coming in at 7.2% for Q3 FY18, higher than the revised estimate of 6.5% witnessed in the previous quarter. Gross Value Addition too, stood at 6.7%, gaining 50 bps quarter-on-quarter. This momentum was driven by a broad based recovery in the economy, pushing the overall headline GDP. The GDP deflator stood at a two-quarter high of 4.4% revealing the inflationary trends being observed in the CPI and WPI series. Q3 FY18 real GDP growth affirms the narrative of reinvigoration of the economic condition after the disruptions caused by structural changes. Furthermore, revival in manufacturing is what helps build into the overall narrative of the India growth story. Going forward, even though the government s adherence to the revised fiscal deficit target remains a cause for concern, rebound in the macroeconomic conditions brings respite. The economy is expected to maintain, if not gain, momentum on back of improvements in the supply chain resulting from GST implementation, consumption led demand from the 7 th CPC revisions, push for the rural economy as well as infrastructural advancements. The Gross Value Addition for Q3 FY18 at factor cost ( ) stands at Rs 20,83,336 Cr implying a growth of 6.7% compared to 6.9% observed in Q3 FY17. This growth is mainly led by a strong momentum in industry, services as well as agricultural sectors of the economy. Mining activity, as reflected by the IIP data, was the only sub-sector that witnessed a contraction, however, this too was partially impacted by an unfavorable base. Boost in crop production and in construction activity further aided the overall headline GDP. Public administration and defense activity also saw a pick-up in pace. Real GVA stands 50 bps higher than the previous quarter and nominal GDP stands substantially increased at 11.9% vis-à-vis 10.0% in Q2 FY18. Table 1: Trends in GDP growth Q3 FY16 Q3 FY17 Q1 FY18 Q2 FY18 Q3 FY18 GVA 7.3% 6.9% 5.6% 6.2% 6.9% Add: Net Taxes 4.9% 5.1% 7.2% 9.4% 13.2% Real GDP 7.1% 6.8% 5.7% 6.5% 7.2% Source: MOSPI, PD Research 1
2 While both the metrics stand on similar footing and GDP being a summation of GVA and net of product taxes and subsidies, it would be evident that the growth in tax figures have increased considerably in Q3 as a result of GST implementation. This high net tax inflow is likely to have boosted the overall headline real GDP to 7.2% in Q3. Sector-Wise Growth The table below goves a brief synopsis of growth rates observed in the sectoral GDP components: Table 2: Sector- wise Growth (in %) GVA at Constant Prices Q3 FY17 Q1 FY18 Q2 FY18 Q3 FY18 Agriculture, forestry & fishing Agriculture GVA Mining & quarrying Manufacturing Electricity, gas & water supply Industry GVA Construction Trade, hotels, transport, communication and services related to broadcasting Financial, insurance, real estate and professional services Public Administration, defense and other services Services GVA GVA at factor cost Source: MOSPI, PD Research Agriculture joins the growth wagon: With expectations of record crop production according to the second advance estimates of the Ministry of Agriculture, agriculture sector at 4.1%, reflects the same. However, Q4 growth in this sector is expected to moderate to a meager 1.9% as production of food grains are expected to grow at 0.9% In FY18 compared to 9.4% in FY17. This would bring the overall sector growth to 3.0% in FY18 vis-à-vis 6.3% witnessed in the previous year. Industrial activity picks up: Momentum in the industrial sector sustained as production activity continued to present robust trends coming in at 6.8% for the quarter under review. Of its sub-sectors, manufacturing stood at a three-quarter high of 8.1%, indicative of concrete signs of economic revival. Growth momentum also persisted in 2
3 electricity production, growing at 6.1% compared to 7.7% in the previous quarter. However, Mining and Quarrying activity saw a contraction, as suggested by the IIP index, pulled further by an unfavorable base. Efficiency gains from the successful implementation of Goods and Services Tax is expected to propel this sector going forward. Services sector encourage: Services clocked in a five-quarter high of 7.7% as problems associated with demonetization and GST implementation stabilized. Construction activity reflected a noteworthy growth of 6.8%, highest in the series as consumption of finished steel registered growth rate of 5.2%. Growth in this sector was further driven by Trade, hotels, Transport, Communication and Services at 9.0% and Financial, Real estate and Services at 6.7%. Public administration and defence, proxy to government spending grew by a 7.2% further pushing the services sector growth upwards. It is notable that this expenditure is expected to increase further by a staggering 15.0% in Q4 FY18, seeming contradictory to ongoing efforts at containing fiscal pressures. Expenditure GDP: Table 2: Rates of GDP (in %) Q3 FY17 Q1 FY18 Q2 FY18 Q3 FY18 Government Final Consumption Expenditure Private Final Consumption Expenditure Gross Fixed Capital Formation Change in stocks Valuables Exports Less: Imports Discrepancies GDP Source: MOSPI, PD Research Nominal GDP saw an uptick coming at 11.9% in relation to 10.0% growth in Q2 FY18 while real GDP also grew to 7.2% compared to 6.5% in Q2 FY18. This increase was pronounced across consumption and capital indicators, which indicated double digit growth rates. Gross fixed capital formation in Q3 grew by 12%, surprising on the upside but is expected to register growth rate of 9.7% at current prices and 7.6% at constant prices 3
4 during FY18. As per IIP, consumption noted modest recovery where capital goods saw a sharp rise of ~12% in Oct-Dec 18 quarter; this is reaffirmed by the recent GDP numbers. Compared to the previous quarter, the drag imparted by net exports was higher as exports contracted while imports expanded, largely due to the rise in oil prices. Notably, the GDP deflator stood at a two-quarter high of 4.4% reflecting the inflationary trends being observed in the CPI series. The source of this inflation is largely being observed due to high food price pressures. Going forward, rising input costs could be a factor driving the inflation trajectory upward. Outlook: The annual GDP estimated in the latest CSO data show that overall growth will moderate to 6.6% vis-à-vis 7.1% in FY18 due to a slowdown in growth during the first half of the year as the economy transitioned to a new tax regime alongside rising import costs. However, Q2 FY18 real GDP growth at 7.2% brings much respite while affirming market narrative of reinvigoration in economic activity. Furthermore, revival in manufacturing is what helps build in the overall narrative for the Indian growth story. In its last policy meet the MPC emphasized on the need to nurture growth momentum while ensuring a sustainable path for future impetus. Efficiency gain associated with the introduction of GST as well as a boost in consumption activity support an optimistic long term growth outlook. Benefits from various reforms such as resolution of the NPA mess would also contribute to this momentum. On the bond outlook, returning strength in the economy proves a mixed bag as prospects of rate hikes develop but increased tax revenue on account of an economic revival allay fears of fiscal slippage. 4
5 . CIN: U67110MH2006PLC A/B1-801, A Wing, 8th floor, Marathon Innova, Marathon Next Gen Compound, Off. Ganpatrao Kadam Marg, Lower Parel (w), Mumbai Dealing Room: (022) Settlements: (022) , Fax (022) Delhi Office: (011) Kolkata Office: (033) Please mail your feedback to stcipd@stcipd.com Website: THIS COMMUNICATION IS FOR PRIVATE CIRCULATION ONLY. IT IS BASED UPON THE INFORMATION GENERALLY AVAILABLE TO PUBLIC AND CONSIDERED RELIABLE. THIS REPORT DOES NOT CONSTITUTE AN INVITATION OR OFFER TO SUBSCRIBE FOR OR PURCHASE OR SALE OF ANY SECURITY AND NEITHER THIS DOCUMENT NOR ANYTHING CONTAINED HEREIN SHALL FORM THE BASIS OF ANY CONTRACT OR COMMITMENT WHATSOEVER WITH PRIMARY DEALER LTD. 5
STCI Primary Dealer Ltd
Macroeconomic Update: GDP and Fiscal Balance Highlights: GDP: Q1 FY15 Growth for first quarter of the year jumped to nine quarter high of 5.7% as against 4.6% in the previous quarter. The surge in overall
More informationSTCI Primary Dealer Ltd
Revisions in India s GDP With MOSPI revising India s GDP estimate to 7.4% for FY15 followed by 6.9% in FY14 and 5.1% in FY13, policymakers are confronted with another conundrum with regards to growth prospects
More informationSTCI Primary Dealer Ltd
Macroeconomic Update : Revision in GDP estimates India s GDP growth rate for FY13 has been revised downwards from 5.0% to 4.5%. All the sectors incorporating agriculture & allied activities, industry and
More informationSTCI Primary Dealer Ltd
Macroeconomic Update: GDP Q3 FY14, Fiscal Balance & Core Sector Highlights: GDP for Q3 FY14 came in at 4.7% compared to downwardly revised 4.4% in Q3 FY13. Agriculture GDP grew less than anticipated at
More informationSTCI Primary Dealer Ltd
Macroeconomic Update: CPI, WPI and IIP Headline CPI inflation for July-18 stood at 4.17%, 75bps lower compared to previous month mainly due to favorable base effect. Retail inflation print for June-18
More informationMacroeconomic Update: CPI, IIP and WPI
Macroeconomic Update: CPI, IIP and WPI India s retail inflation print for the month of March rose to 5-month high of 3.81% led by a rise in prices of food artciles like fruits, vegetables and fuel. Meanwhile
More informationMacroeconomic Update: CPI, WPI and IIP
Macroeconomic Update: CPI, WPI and IIP India s retail inflation for the month of July rose from a record-low to a three-month high of 2.36% on account of an uptick in prices of food items including vegetables
More informationRBI's Annual Monetary Policy
Amol Agrawal amol@stcipd.com +91-22-66202234 RBI's Annual Monetary Policy 2012-13 In Annual Monetary Policy 2012-13, RBI surprised markets by easing Repo rate by 50 bps to 8%. The consensus market expectations
More informationSTCI Primary Dealer Ltd
Macroeconomic Update: CPI Inflation and IIP CPI Inflation (Apr-14) Highlights: Headline retail inflation rose to 8.59% for Apr-14 compared to 8.31% in the previous month. Core CPI inflation stood virtually
More informationRBI s Monetary Policy Q : Expectations
RBI s Monetary Policy Q2 2012-13: Expectations RBI s Monetary Policy for Second Quarter 2012-13 is scheduled to be announced on 30-Oct- 12. The market expectations are once again divided over rate cut
More informationRBI's Monetary Policy Q : Review
Amol Agrawal amol@stcipd.com +91-22-66202234 RBI's Monetary Policy Q1 2012-13: Review In First Quarter Review of Monetary Policy 2012-13, RBI kept policy rates unchanged. The policy decision is in line
More informationRBI s Q Monetary Policy: Expectations
Amol Agrawal amol@stcipd.com +91-22-66202234 RBI s Q2 2011-12 Monetary Policy: Expectations RBI is scheduled to announce its second quarter 2011-12 monetary policy review on October 25, 2011. We expect
More informationSTCI Primary Dealer Ltd
Macroeconomic Update: CPI Inflation and IIP CPI Inflation Update (Dec-14) Highlights: Belying most market expectations, headline CPI inflation continued to remain firmly low, standing at 5% v/s consensus
More informationEconomic Outlook Survey. January 2017
January 2017 GDP growth estimated at 6.8% in 2016-17: FICCI s Economic Outlook Survey HIGHLIGHTS GDP growth for FY 17 estimated at 6.8% The latest round of FICCI s Economic Outlook Survey puts forth an
More informationMONETARY POLICY OUTLOOK- THE FIFTH BI-MONTHLY MONETARY POLICY REVIEW OF THE CURRENT FINANCIAL YEAR DECEMBER-MARCH
MONETARY POLICY OUTLOOK- THE FIFTH BI-MONTHLY MONETARY POLICY REVIEW OF THE CURRENT FINANCIAL YEAR DECEMBER-MARCH 2018-19 Dr. Arun Kumar Misra, Associate Professor, Finance & Accounts, VGSOM, IIT Kharagpur
More informationThis Press Release is embargoed against publication, telecast or circulation on internet till 5.30 pm today i.e. 28th February
. PRESS NOTE ON SECOND ADVANCE ESTIMATES OF NATIONAL INCOME 2017-18 AND QUARTERLY ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE THIRD QUARTER (Q3) OF 2017-18 CENTRAL STATISTICS OFFICE MINISTRY OF STATISTICS
More informationGDP. Economy Snapshots. Q3FY18 GDP at 7.2%; recovery shaping up
Mar 1, 218 Q3 GVA at 6.7% vs 6.2% in Q2 Nominal GDP at 11.9% vs 1% in Q2 GDP Q3 GDP at 7.2%; recovery shaping up Healthy GDP for Q3 at 7.2% portrays the expected growth turnaround post a dismal H1. Growth
More informationIndian Economy. GDP growth slowed down but remained above the comfortable 7% Manufacturing GVAbp
Indian Economy Economic Growth GDP growth slowed down but remained above the comfortable 7% Domestic economy witnessed 7.1% GDP growth during the first quarter (Apr - Jun) of fiscal 2016-17 (Q1FY17) as
More informationSTCI Primary Dealer Ltd
Impact of SLR cut on G-Sec appetite December 30, 2010 Meghna Patel meghna@stcipd.com 022 66202229 The financial year 2010-11 has been a year of steady transformations for the bond market. Transformations
More informationThis Press Release is embargoed against publication, telecast or circulation on internet till 5.30 pm today i.e. 31 st May 2018 PRESS NOTE
This Press Release is embargoed against publication, telecast or circulation on internet till 5.30 pm today i.e. 31 st May 2018 PRESS NOTE ON PROVISIONAL ESTIMATES OF ANNUAL NATIONAL INCOME, 2017-18 AND
More informationThis Press Release is embargoed against publication, telecast or circulation on internet till 5.30 pm today i.e. 8th February
. PRESS NOTE ON ADVANCE ESTIMATES OF NATIONAL INCOME 2015-16 AND QUARTERLY ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE THIRD QUARTER (Q3) OF 2015-16 CENTRAL STATISTICS OFFICE MINISTRY OF STATISTICS & PROGRAMME
More informationIndia s Economic Outlook
India s Economic Outlook Draft Report 2017-18 & 2018-19 India-LINK Team* September 2017 *These forecasts, developed as part of World Project Link, are based on the India-LINK (earlier known as CDE- DSE
More informationThis Press Release is embargoed against publication, telecast or circulation on internet till 5.30 pm today i.e. 6 th January 2017 PRESS NOTE
PRESS NOTE ON FIRST ADVANCE ESTIMATES OF NATIONAL INCOME 2016-17 CENTRAL STATISTICS OFFICE MINISTRY OF STATISTICS & PROGRAMME IMPLEMENTATION GOVERNMENT OF INDIA 2 GOVERNMENT OF INDIA MINISTRY OF STATISTICS
More informationAugust 1, 2017 I Economics EXPECTATIONS FROM CREDIT POLICY: AUGUST 2017
EXPECTATIONS FROM CREDIT POLICY: AUGUST 2017 August 1, 2017 I Economics The third bi-monthly monetary policy review for this fiscal year is to be announced by the RBI on 2nd August 2017. It will be sixth
More informationMarket Roundup. Macro-Economic Overview. Domestic Macroeconomic Development
Market Roundup Domestic Macroeconomic Development The Monetary Policy Committee (MPC), in its bi-monthly Monetary Policy meeting in June, decided to increase the repo rate for the first time since January
More informationPrepared by Basanta K Pradhan & Sangeeta Chakravarty January and February 2013
Prepared by Basanta K Pradhan & Sangeeta Chakravarty January and February 2013 Highlights Sharp fluctuation in Industrial activity Headline inflation is down marginally Marginal rise in CPI inflation Rupee
More informationMonetary Policy Review Premature end to the easing cycle?
The monetary policy committee (MPC) maintained status quo for the second policy review running, keeping Repo rate at 6.25%, contrary to market expectations of 25bps cut. Consequently, the reverse repo/msf
More informationRBI maintains status quo in Sixth Bi-monthly Monetary Policy Statement,
RBI maintains status quo in Sixth Bi-monthly Monetary Policy Statement, -18 Policy repo rate unchanged at and the reverse repo rate under the LAF remains at 5 On the basis of an assessment of the current
More informationMONTHLY ECONOMIC BULLETIN
MONTHLY ECONOMIC BULLETIN Janu uary 2015,, Volume 1, Issue 3 Vanijya Bhavan (1st Floor) International Trade Facilitation Centre 1/1 Wood Street Kolkata - 700016 http://www.eepcindia.org E E PC India Page
More informationPRESS NOTE ON QUARTERLY ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE THIRD QUARTER (OCTOBER-DECEMBER) OF CENTRAL STATISTICS OFFICE
PRESS NOTE ON QUARTERLY ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE THIRD QUARTER (OCTOBER-DECEMBER) OF 2012-13 CENTRAL STATISTICS OFFICE MINISTRY OF STATISTICS AND PROGRAMME IMPLEMENTATION GOVERNMENT
More informationFICCI Economic Outlook Survey
FICCI Economic Outlook Survey January 2010 FICCI, Federation House, 1, Tansen Marg, New Delhi About the Survey The Economic Outlook Survey was conducted during the period January 1 to January 15, 2010.
More informationOperation Twist: 1961 vs. 2011
Amol Agrawal amol@stcipd.com +91-22-66202234 Operation Twist: 1961 vs. 2011 Ever since the crisis, Federal Reserve (and other central banks following Fed) has introduced new innovative measures to stimulate
More informationThis Press Release is embargoed against publication, telecast or circulation on internet till 5.30 pm today i.e. 31 st May 2017.
This Press Release is embargoed against publication, telecast or circulation on internet till 5.30 pm today i.e. 31 st May 2017. PRESS NOTE ON PROVISIONAL ESTIMATES OF ANNUAL NATIONAL INCOME, 2016-17 AND
More informationFINCLUSION Newsletter No. 31 (dated 14th May 2014). Contact us at
As highlighted in a previous newsletter, the macroeconomic indicators for the Indian economy have shown substantial improvement over the past year. In this newsletter, we provide an update on the frequently
More informationPrepared by Basanta K Pradhan & Sangeeta Chakravarty December 2012
Prepared by Basanta K Pradhan & Sangeeta Chakravarty December 2012 Highlights Sharp fluctuation in Industrial activity Headline inflation is down marginally CPI inflation fell very marginally Rupee stabilizing
More informationREFERENCE NOTE. No. 28/RN/Ref./November /2013
LOK SABHA SECRETARIAT PARLIAMENT LIBRARY AND REFERENCE, RESEARCH, DOCUMENTATION AND INFORMATION SERVICE (LARRDIS) MEMBERS REFERENCE SERVICE REFERENCE NOTE. No. 28/RN/Ref./November /2013 For the use of
More informationRBI hikes repo rate in Third Bi-monthly Monetary Policy Statement,
RBI hikes repo rate in Third Bi-monthly Monetary Policy Statement, -19 Policy repo rate increased to 6.50 and the reverse repo rate under the LAF stands at 6.25 On the basis of an assessment of the current
More informationGovernment Cash Balances - Linkages with Liquidity
Amol Agrawal amol@stcipd.com +91-22-6622234 Government Cash Balances - Linkages with Liquidity We have been releasing reports in the nature of primers on RBI s operations and accounts (Refer Guide to Weekly
More informationPRESS INFORMATION BUREAU GOVERNMENT OF INDIA PRESS NOTE ADVANCE ESTIMATES OF NATIONAL INCOME,
1 PRESS INFORMATION BUREAU GOVERNMENT OF INDIA PRESS NOTE ADVANCE ESTIMATES OF NATIONAL INCOME, 2012-13 Dated the 12 Magha, 1934 Saka 7 February, 2013 The Central Statistics Office (CSO), Ministry of Statistics
More informationPRESS INFORMATION BUREAU GOVERNMENT OF INDIA PRESS NOTE ADVANCE ESTIMATES OF NATIONAL INCOME,
PRESS INFORMATION BUREAU GOVERNMENT OF INDIA Dated the 12 Magha, 1933 Saka 7 February, 2012 PRESS NOTE ADVANCE ESTIMATES OF NATIONAL INCOME, 2011-12 The Central Statistics Office (CSO), Ministry of Statistics
More informationThis Press Release is embargoed against publication, telecast or circulation on internet till 5.30 pm today i.e. 29th May 2015.
PRESS NOTE ON PROVISIONAL ESTIMATES OF ANNUAL NATIONAL INCOME 2014-15 AND QUARTERLY ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE FOURTH QUARTER (Q4) 2014-15 CENTRAL STATISTICS OFFICE MINISTRY OF STATISTICS
More informationMETHODOLOGY OF COMPILING QUARTERLY GDP ESTIMATES
METHODOLOGY OF COMPILING QUARTERLY GDP ESTIMATES The Central Statistical Organisation (CSO) introduced the quarterly estimates of Gross Domestic Product (GDP) on 30.6.1999. Quarterly Releases include GDP
More informationPRESS NOTE ON ADVANCE ESTIMATES OF NATIONAL INCOME CENTRAL STATISTICS OFFICE MINISTRY OF STATISTICS & PROGRAMME IMPLEMENTATION
PRESS NOTE ON ADVANCE ESTIMATES OF NATIONAL INCOME 2010-11 CENTRAL STATISTICS OFFICE MINISTRY OF STATISTICS & PROGRAMME IMPLEMENTATION GOVERNMENT OF INDIA PRESS INFORMATION BUREAU GOVERNMENT OF INDIA Dated
More informationPRESS INFORMATION BUREAU GOVERNMENT OF INDIA PRESS NOTE ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE THIRD QUARTER (OCTOBER-DECEMBER) OF
1 PRESS INFORMATION BUREAU GOVERNMENT OF INDIA PRESS NOTE Dated the 9 Phalguna, 1932 Saka 28 February, 2011 ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE THIRD QUARTER (OCTOBER-DECEMBER) OF 2010-11 The Central
More informationIndia s Economic Outlook
India s Economic Outlook Draft Report 2016-17 India-LINK Team* September 2016 Comments and queries may be addressed to: Pami Dua 1, N.R. Bhanumurthy 2 and Lokendra Kumawat 3 *These forecasts, developed
More informationEconomic Outlook Survey
Highlights March 2014 Results of FICCI s latest Economic Outlook Survey point towards a recovery in the year 2014-15. The median GDP growth forecast is estimated at 5.5% for 2014-15, with a minimum and
More informationBalance of Payment Q3 FY (October-December 2012)
Balance of Payment Q3 FY2012-13 (October-December 2012) Key Highlights: - India s Current Account Deficit (CAD) widened to a record high of 6.7% of GDP in Q3 FY2012-13 on the back of surging oil and gold
More informationNovember 21, Economic Intelligence Unit Baroda Corporate Center Bank of Baroda Mumbai Indian Economic Briefs
Economic Intelligence Unit Baroda Corporate Center Bank of Baroda Mumbai eiu.bcc@bankofbaroda.com November 21, 2015 Weekly Macro Perspectives --------------------------------------------------------------------------------------------------------------------------------------
More informationMONTHLY UPDATE SEPTEMBER 2017
MONTHLY UPDATE SEPTEMBER 2017 September 2017 "I am a better investor because I am a businessman and a better businessman because I am an investor. - Warren Buffett Equity Markets Indices 31 st Aug 2017
More informationRBI s Sixth Bi-Monthly Monetary Policy Review ( ) Maintains status quo...neutral Stance
7h February 2018 RBI s Sixth Bi-Monthly Monetary Policy Review (2017-18) Maintains status quo...neutral Stance Repo Rate unchanged at Reverse Repo Rate stands at 5.75% Marginal Standing Facility and Bank
More informationPRESS NOTE ON ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE FIRST QUARTER
PRESS NOTE ON ESTIMATES OF GROSS DOMESTIC PRODUCT FOR THE FIRST QUARTER APRIL-JUNE (2010-2011) CENTRAL STATISTICS OFFICE MINISTRY OF STATISTICS & PROGRAMME IMPLEMENTATION GOVERNMENT OF INDIA (Revised)
More informationThis Press Release is embargoed against publication, telecast or circulation on internet till 5.30 pm today i.e. 31 st January, 2018.
This Press Release is embargoed against publication, telecast or circulation on internet till 5.30 pm today i.e. 31 st January, 2018. PRESS NOTE ON FIRST REVISED ESTIMATES OF NATIONAL INCOME, CONSUMPTION
More informationEconomic Outlook Survey September 2015
FICCI s Economic Outlook Survey: GDP growth at 7.6% for 2015-16 Results of FICCI s latest Economic Outlook Survey indicate moderation in GDP growth estimates. Based on the responses received, the median
More informationTable 1.3 : Demand side growth in GDP, growth contribution and relative share (figures in per cent at market prices) Growth of GDP
Aggregate demand and its composition 1.17 The most important contribution to demand growth during the Tenth Five Year Plan period (2002-07) had come from investment, while the external trade made negligible
More informationInvestment Strategy Note 24 Nov 2015
India: muddling through a difficult environment India remains a long term positive story based on its economic and demographic potential despite disappointments in the recent pace of recovery. The global
More informationMauritius Economy Update January 2015
January 19, 2015 Economics Mauritius Economy Update January 2015 Overview - Mauritian economy has been witnessing a persistent moderation in growth since 2010 due to weak economic activity in Euro Zone,
More informationReviewing Macro-economic Developments and Understanding Macro-Economic Policy
MINISTRY OF FINANCE GOVERNMENT OF INDIA Reviewing Macro-economic Developments and Understanding Macro-Economic Policy Module 5 Contemporary Themes in India s Economic Development and the Economic Survey
More informationPrepared by Basanta K Pradhan & Sangeeta Chakravarty August 2010
Prepared by Basanta K Pradhan & Sangeeta Chakravarty August 21 Highlights Industrial growth cools down WPI inflation falls marginally. Rupee appreciates marginally The annual growth of Index of Industrial
More informationBANKING SECTOR PERFORMANCE STUDY H1FY14
BANKING SECTOR PERFORMANCE STUDY H1FY14 Our study covers 39 banks 26 Public Sector Banks & 13 Private Sector Banks. Banking December 11, 2013 Foreword As per the Central Statistical Organization (CSO)
More informationThe real change in private inventories added 0.15 percentage points to the second quarter GDP growth, after subtracting 0.65% in the first quarter.
QIRGRETA Monthly Macroeconomic Commentary United States The U.S. economy rebounded in the second quarter of 2007, growing at an annual rate of 3.4% Q/Q (+1.8% Y/Y), according to the GDP advance estimates
More informationMONTHLY ECONOMIC BULLETIN
MONTHLY ECONOMIC BULLETIN Febru ruary 2015,, Volume 1, Issue 4 Vanijya Bhavan (1st Floor) International Trade Facilitation Centre 1/1 Wood Street Kolkata - 700016 http://www.eepcindia.org E E PC India
More informationSecond Hike with Neutral Stance
Second Hike with Neutral Stance RBI hiked the key policy rate by 25 bps to 6.50%, while retaining the neutral stance of monetary policy. This is second consecutive hike since June 2018. Highlight of the
More informationMONTHLY ECONOMIC REPORT MARCH 2014
Ministry of Finance Department of Economic Affairs Economic Division 4(3)/Ec. Dn. /2012 MONTHLY ECONOMIC REPORT MARCH 2014 HIGHLIGHTS The growth of GDP at factor cost at constant (2004-05) prices (real
More informationNorthern Ireland Quarterly Sectoral Forecasts
Economic Analysis Northern Ireland Quarterly Sectoral Forecasts 2018 Quarter 1 Northern Ireland Quarterly Sectoral Forecasts Forecast summary For the Northern Ireland economy, the first part of 2018 has
More informationRBI Q1 FY11 Monetary Policy Review
RBI Q1 FY11 Monetary Policy Review The Policy Measures In Brief In its First Quarter Review of the Annual Monetary Policy for 2010-11, the Reserve Bank of India increased its policy rates with immediate
More informationHONDURAS. 1. General trends
Economic Survey of Latin America and the Caribbean 2016 1 HONDURAS 1. General trends Economic growth in Honduras picked up in 2015, reaching 3.6%, compared with 3.1% in 2014. This performance was mainly
More information4. Economic Outlook. ASSUMPTIONS AND SCENARIOS Condition of the International Economy World economic growth is predicted. to remain strong in 2007,
Monetary Policy Report - Quarter II-2007 4. Economic Outlook Overall, the accelerated pace of economic growth of 2007-2008 is predicted to carry forward, being accompanied by sustained macroeconomic stability.
More informationNOTES ON METHODOLOGY AND REVISIONS IN THE ESTIMATES
NOTES ON METHODOLOGY AND REVISIONS IN THE ESTIMATES The new series on National Accounts Statistics was introduced through a Press Release on January 30, 2015 with base year 2011-12 in place of previous
More informationCARE Ratings Survey on the Indian Economy: FY16
July 16, 2015 Economics CARE Ratings Survey on the Indian Economy: FY16 Expectations ran high for the Indian economy since early 2014 on hopes that the domestic economy would be recharged and investments
More information23 rd Year of Publication. A monthly publication from South Indian Bank. To kindle interest in economic affairs... To empower the student community...
Experience Next Generation Banking To kindle interest in economic affairs... To empower the student community... Open YAccess www.sib.co.in ho2099@sib.co.in A monthly publication from South Indian Bank
More informationHigher Minimum Wage to Boost Domestic Economy Without Burdening Businesses
7 September 2018 ECONOMIC REVIEW 2019 Minimum Wage Higher Minimum Wage to Boost Domestic Economy Without Burdening Businesses Gradual rise in the national minimum wage will have positive impacts on Malaysia
More informationDOMINICAN REPUBLIC. 1. General trends
Economic Survey of Latin America and the Caribbean 2016 1 DOMINICAN REPUBLIC 1. General trends The economy of the Dominican Republic grew by 7.0% in 2015, compared with 7.3% in 2014. That growth is driven
More informationMONTHLY UPDATE FEBRUARY 2018
MONTHLY UPDATE FEBRUARY 2018 February 2018 One of the reasons so many people get burned in the market is because they start buying as they see prices going up. Equity Markets - Robert Kiyosaki Indices
More informationMONTHLY ECONOMIC REPORT MARCH 2013 HIGHLIGHTS
Ministry of Finance Department of Economic Affairs Economic Division 4(3)/Ec. Dn. /2012 MONTHLY ECONOMIC REPORT MARCH 2013 HIGHLIGHTS The overall growth of GDP at factor cost at constant prices, as per
More information2017 FIRST QUARTER ECONOMIC REVIEW
2017 FIRST QUARTER ECONOMIC REVIEW MAY 2017 0 P a g e Overview The performance of the economy in the first quarter of 2017 was on a positive trajectory with annual growth projected to be about 3.9 % from
More informationWHAT'S NEW. International Developments
International Developments Bank of England's MPC voted for a package of measures designed to provide additional support to growth and to achieve a sustainable return of inflation to the 2% target comprising
More informationResults of the Survey of Professional Forecasters on Macroeconomic Indicators Round 44 1
Results of the Survey of Professional Forecasters on Macroeconomic Indicators Round 44 1 In the 44 th round of the Survey of Professional Forecasters, output growth for 2016-17 measured by gross value
More informationPRESS RELEASE: THE DEPARTMENT OF STATISTICS RELEASES GROSS DOMESTIC PRODUCT (GDP) 2017 FIGURES
PRESS RELEASE: THE DEPARTMENT OF STATISTICS RELEASES GROSS DOMESTIC PRODUCT (GDP) 2017 FIGURES The National Accounts Section of the Department of Statistics announces the release of a revised data series
More information4(8)/Ec. Dn. /2017 Ministry of Finance Department of Economic Affairs Economic Division MONTHLY ECONOMIC REPORT NOVEMBER 2018 ***** HIGHLIGHTS
4(8)/Ec. Dn. /2017 Ministry of Finance Department of Economic Affairs Economic Division MONTHLY ECONOMIC REPORT NOVEMBER 2018 ***** HIGHLIGHTS The growth of real GDP for the first half of 2018-19 was 7.6
More informationEconomic Outlook Survey. November 2017
November 2017 2007-2008- 2009-2010- 2011-2012- 2013-2014- 2015-2016- 2017- Economic Outlook Survey GDP growth estimated at 6.7% and Fiscal Deficit at 3.3% in 2017-18 FICCI s Economic Outlook Survey HIGHLIGHTS
More informationMONTHLY UPDATE APRIL 2018
MONTHLY UPDATE APRIL 2018 April 2018 The stock market is the story of cycles and of the human behavior that is responsible for overreactions in both directions. Equity Markets - Seth Klarman Indices 28
More informationSOUTH ASIA. Chapter 2. Recent developments
SOUTH ASIA GLOBAL ECONOMIC PROSPECTS January 2014 Chapter 2 s GDP growth rose to an estimated 4.6 percent in 2013 from 4.2 percent in 2012, but was well below its average in the past decade, reflecting
More informationPROSPERITY INSIGHTS. Global growth on an upswing; India s Q2 GDP validate nascent signs of recovery
PROSPERITY INSIGHTS Global growth on an upswing; India s Q2 GDP validate nascent signs of recovery 2017 ended on a positive note, with the last set of the year s macro data continued to underpin the strength
More informationIndian Economy. Global Economy
January 16, 2012 1 2 Indian Economy *Industrial Growth Rebounds: Industrial growth recovered to 5.9% in November on a year-on-year basis led by better-than-expected manufacturing growth. Index of Industrial
More informationPerformance and Outlook. December 2015
Performance and Outlook December 2015 Agenda Macro Picture Performance Highlights Q&A 2 Agenda Macro Picture Performance Highlights Fundamentals (IIP) Output conditions Inflation Rates Credit and Deposit
More informationFixed Income Update October 2015
Month Overview Average Liquidity Support by RBI Rs -5,527 Cr. Includes: LAF, MSF, SLF & Term Repo Bank Credit Growth Money Market Bank Deposit Growth 9.6% 11.6% Change in basis points Tenure CD Change
More informationThe Budget Reality Show From EDITOR: ARJUN PARTHASARATHY
The Budget Reality Show From 2013-14 EDITOR: ARJUN PARTHASARATHY 1 Table of Content Budget 2013-14 Reality Show Part 1 Forecasts 4-5 Part 2 Non Plan Expenditure 6-8 Part 3 Revenue 9-11 Part 4 Cheat Sheet
More informationNATIONAL ACCOUNTS STATISTICS Highlights
Per Capita Income (in Rs.) NATIONAL ACCOUNTS STATISTICS 218 Highlights 1. The Gross Domestic Product at constant (211-12) prices for the year 217-18 is estimated at ` 13.1 lakh crore, as against the estimate
More informationGOVERNMENT OF INDIA MINISTRY OF STATISTICS AND PROGRAMME IMPLEMENTATION
GOVERNMENT OF INDIA MINISTRY OF STATISTICS AND PROGRAMME IMPLEMENTATION LOK SABHA UNSTARRED QUESTION NO. 5170 TO BE ANSWERED ON WEDNESDAY, THE 5 th APRIL, 2017 CALCULATION OF GDP GROWTH 5170. SHRI SULTAN
More information(Narendra Jena) Economic Officer
Ministry of Finance Department of Economic Affairs Economic Division 4(3)/Ec. Dn. /2012 MONTHLY ECONOMIC REPORT DECEMBER 2016 ***** HIGHLIGHTS As per the first revised estimates of national income, consumption
More informationFund Manager Commentary
Fund Manager Commentary October 2018 Indian Equity & Fixed Income Market Overview Market sentiments turned weak during September Equity markets saw heightened volatility during the month and the performance
More information3Q18 GDP Growth to Ease to 4.2% amid Moderating Agricultural and Industrial Output
ECONOMIC REPORT National Account Preview 13 November 2018 GDP Growth to Ease to 4.2% amid Moderating Agricultural and Industrial Output Moderating business confidences. Looking at leading indicators, Malaysia
More informationMonitoring the Philippine Economy Third Quarter Report for 2016
Monitoring the Philippine Economy Third Quarter Report for 2016 Project of Angelo King Institute Mitzie Irene P. Conchada 1 Assistant Professor School of Economics Regina S. Villasor BS Applied Economics
More informationVietnam grew quicker than expected in 3Q
September 9, 1 Global Markets Research Economics - Vietnam Vietnam grew quicker than expected in 3Q Vietnam s economy grew.93 in the past nine months (1H: +.) as momentum in the manufacturing and services
More informationPrepared by Basanta K Pradhan & Sangeeta Chakravarty November 2009
Prepared by Basanta K Pradhan & Sangeeta Chakravarty November 2009 Index of industrial production shows sign of economic recovery IIP increased by 9.1 percent Inflation now turning positive High food prices
More informationVolume II. Chapter 1. Study Iq Education
Volume II Chapter 1 Chapter 1 Introduction Section A. Analytical review of recent development The Goods & Services Tax Paradigm Shift to Low Inflation Wedge between asset price & real economy Farm Loan
More informationThe Economic Outlook of Taiwan
The Economic Outlook of Taiwan by Ray Yeutien Chou and Shou-Yung Yin The Institute of Economics, Academia Sinica, Taipei October 2016 Prepared for Project LINK 2016 Fall Meeting, Toronto City, Oct. 19-21,
More informationMid-Quarter Monetary Policy Review
18 December, 2013 Mid-Quarter Monetary Policy Review RBI maintained status quo in the mid-quarter monetary policy meeting held today preferring to wait and watch for more forthcoming macro-economic data
More informationPUBLIC DEBT MANAGEMENT QUARTERLY REPORT JANUARY-MARCH 2018
PUBLIC DEBT MANAGEMENT QUARTERLY REPORT JANUARY-MARCH 2018 GOVERNMENT OF INDIA MINISTRY OF FINANCE BUDGET DIVISION DEPARTMENT OF ECONOMIC AFFAIRS JUNE 2018 www.dea.gov.in ii CONTENTS Section Page No. Introduction
More informationEconomic activity gathers pace
Produced by the Economic Research Unit October 2014 A quarterly analysis of trends in the Irish economy Economic activity gathers pace Positive data flow Recovery broadening out GDP growth revised up to
More information