Slowdown in GDP growth late last year temporary: Moody's Analytics
1 year, 9 months ago

Slowdown in GDP growth late last year temporary: Moody's Analytics

The Hindu  

March 07, 2023 05:44 pm | Updated 08:49 pm IST - New Delhi Moody’s Analytics on March 7, said India’s domestic economy, rather than trade, is its primary engine of growth and the slowdown in economic activity late last year will only be temporary. The government data released last week showed India’s gross domestic product growth slowed to a three quarter low of 4.4% in October-December, 2022, mainly due to contraction in manufacturing and low private consumption expenditure. In its report on emerging market outlook, moody’s analytics said growth slowed substantially on a year-ago basis, with private consumption lagging overall gdp for the first time since the delta wave of COVID-19 struck the economy in the second quarter of 2021. Moody’s Analytics said India’s domestic economy, rather than trade, is its primary engine, in contrast to most other emerging-Asia economies.

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