GDP: How consumers saved the day as government spending slowed during polls
4 months, 1 week ago

GDP: How consumers saved the day as government spending slowed during polls

Live Mint  

The Indian economy grew 6.65% in the first quarter of the current financial year, a notable slowdown from the 7.76% recorded in the previous quarter. For much of last year, even as GDP growth kept breaching the 8% mark, private consumption lagged at the halfway mark, raising concerns about the robustness of the growth momentum. In the June-ended quarter, however, private consumption growth surged to 7.45%, up from 3.99% in the March quarter, contributing positively to GDP growth after a gap of seven quarters. Read this | In charts: GDP growth disappoints in April-June, but “not a cause for alarm" “Typically, private consumption expenditure contracts in April-June January-March due to seasonal effects. “We anticipate a back-ended pickup in the GDP growth to above 7% in October-March, boosted by government capex and pent-up rural demand during the festive months," rating agency Icra Ltd said in a note.

India Consumption Exports Quarter Private Gdp Expenditure Government Spending Net Exports Private Consumption Gdp Growth Growth Gap Capital Expenditure  consumption  quarter  growth  gap  private  services  slowed  gdp  polls  day  consumers  expenditure  saved  activity  exports  spending

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Ahead of Budget, govt pegs FY25 GDP growth at a tepid 6.4%—the slowest since the pandemic
4 days, 1 hour ago

Ahead of Budget, govt pegs FY25 GDP growth at a tepid 6.4%—the slowest since the pandemic

Live Mint  

New Delhi: The Indian economy’s express train may be slowing down, even while remaining the fastest-growing major economy in the world. India’s finance ministry recently said it expects the economy to grow at 6.5% in FY25, while the Reserve Bank of India estimated a 6.6% growth aided by rural consumption, government investment, and strong services exports. However, India’s gross domestic …

India’s GDP growth shocker: Bad news can be good too
1 month, 1 week ago

India’s GDP growth shocker: Bad news can be good too

Live Mint  

India’s growth in gross domestic product of 5.4% in the three months ended 30 September, or the second quarter of 2024-25, was a shocker. It’s the lowest level seen since the third quarter of 2022-23 and a sharp drop from 8.1% growth in the same period last year and also from 6.7% in the first quarter of 2024-25. Given the …

5.4%: Q2 GDP growth slowest in seven quarters
1 month, 1 week ago

5.4%: Q2 GDP growth slowest in seven quarters

Hindustan Times  

India’s economy expanded at a lower-than-expected 5.4% in the three months ended September, with sluggish growth in manufacturing and private consumption, a reflection of weak demand because of high borrowing costs, inflation and weak real wage growth. The headline GDP growth number is 1.3 percentage points lower than the June quarter print and the lowest in seven quarters, since the …

RBI’s GDP projections on test as India’s Q2 GDP growth falls short
1 month, 1 week ago

RBI’s GDP projections on test as India’s Q2 GDP growth falls short

Live Mint  

The Indian economy experienced a big jolt in the July-September quarter of 2024-25, with the real GDP growth rate slowing to 5.36%, the lowest in seven quarters, data released by the statistics ministry on Friday showed. A back-of-the-envelope calculation suggests GDP growth will have to average 8.3% in the second half of the year to align with the RBI’s full-year …

Q2 GDP growth falls to 5.4 per cent, lowest in seven quarters
1 month, 1 week ago

Q2 GDP growth falls to 5.4 per cent, lowest in seven quarters

New Indian Express  

The second quarter GDP numbers sprang a negative surprise with real GDP registering a 5.4 per cent growth against 6.7 per cent in the first quarter due to sluggish manufacturing and private consumption. Private final consumption grew at 6 per cent during the quarter, lower than the 7.4 per cent growth recorded during the first quarter. The consumption slowdown was …

U.S. Economy Grew At Healthy 2.8% Pace Last Quarter On Strength Of Consumer Spending
2 months, 1 week ago

U.S. Economy Grew At Healthy 2.8% Pace Last Quarter On Strength Of Consumer Spending

Huff Post  

LOADING ERROR LOADING WASHINGTON — The U.S. economy grew at a healthy 2.8% annual rate from July through September, with consumers helping drive growth despite the weight of still-high interest rates. Wednesday’s report from the Commerce Department said the gross domestic product — the economy’s total output of goods and services — slowed slightly from its 3% growth rate in …

Slowing of GDP growth due to lower govt spending, MCC: RBI Governor
4 months, 1 week ago

Slowing of GDP growth due to lower govt spending, MCC: RBI Governor

The Hindu  

The slowing of India's economic growth to a 15-month low of 6.7% in the April-June quarter was due to "lower" government spending in the wake of the enforcement of the model code of conduct for the recent Lok Sabha polls, RBI Governor Shaktikanta Das said here on Saturday. However, the first advance estimation data released by the National Statistical Office …

Why did the UK economy grow over the past quarter and what does it mean?
4 months, 3 weeks ago

Why did the UK economy grow over the past quarter and what does it mean?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK economy posted another …

GDP growth maintaining pace seen in Q4, says RBI bulletin
6 months, 3 weeks ago

GDP growth maintaining pace seen in Q4, says RBI bulletin

Live Mint  

Mumbai: The Indian economy is likely to sustain the growth momentum of the January-March quarter in the three months through June as private consumption grows and manufacturing and services pick up pace, Reserve Bank of India officials said. “More recent indicators suggest that private consumption is resuming its role as the main driver of demand and is getting broad-based to …

US economic growth last quarter is revised down from 1.6% rate to 1.3%, but consumers kept spending
7 months, 1 week ago

US economic growth last quarter is revised down from 1.6% rate to 1.3%, but consumers kept spending

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The Commerce Department had previously estimated that the nation’s …

US economic growth for last quarter is revised up slightly to a healthy 3.4% annual rate
9 months, 1 week ago

US economic growth for last quarter is revised up slightly to a healthy 3.4% annual rate

Associated Press  

WASHINGTON — The U.S. economy grew at a solid 3.4% annual pace from October through December, the government said Thursday in an upgrade from its previous estimate. But last quarter’s growth was still a solid performance, coming in the face of higher interest rates and powered by growing consumer spending, exports and business investment in buildings and software. In the …

Real GDP growth may hit 8% this fiscal year, signals FinMin
9 months, 2 weeks ago

Real GDP growth may hit 8% this fiscal year, signals FinMin

The Hindu  

India’s economy may well end up growing by about 8% this fiscal, outstripping the 7.6% real GDP growth projected by the National Statistical Office, the Finance Ministry signalled on Friday, citing the continuing momentum in economic activity in the ongoing final quarter of 2023-24. Despite risks such as “hardening crude oil prices” and “global supply chain bottlenecks to trade”, the …

UK probably left recession as economy grows 0.2% in January
9 months, 4 weeks ago

UK probably left recession as economy grows 0.2% in January

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Data released by the Office for National Statistics said that GDP - a measure …

Positive GDP Surprise: Growth in Private Consumption Remains Critical
1 year ago

Positive GDP Surprise: Growth in Private Consumption Remains Critical

News 18  

The government’s first advance estimate of the Gross Domestic Product for the current fiscal, which will end in March, has been a positive surprise for most economists. Rajani Sinha, the Chief Economist of CARE Ratings, said MOSPI’s projection of the GDP “seems to be relatively optimistic, surpassing the RBI’s estimate of 7% and our own projection of 6.8 per cent”. …

India’s Q2 GDP growth beats estimates at 7.6%
1 year, 1 month ago

India’s Q2 GDP growth beats estimates at 7.6%

Hindustan Times  

India’s economy grew 7.6% in the second quarter of the year, exceeding analyst expectations comfortably on the back of higher government spending and a strong performance by the manufacturing and construction sectors. India’s Q2 GDP growth beats estimates at 7.6% {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} “The GDP growth numbers for Q2 display the resilience and strength of the Indian economy in …

US economic growth for last quarter is revised up to a 5.2% annual rate
1 year, 1 month ago

US economic growth for last quarter is revised up to a 5.2% annual rate

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Shrugging off higher interest rates, …

Economy not out the woods despite bigger-than-expected jump in June, experts say
1 year, 5 months ago

Economy not out the woods despite bigger-than-expected jump in June, experts say

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. This underwhelming rebound in quarterly UK GDP highlights the …

UK growth beats expectations in second quarter
1 year, 5 months ago

UK growth beats expectations in second quarter

The Telegraph  

Households increased spending on restaurants and transport, bringing a 0.7pc increase in real household expenditure across the quarter. Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said: “The UK remains the only G7 country in which the main quarterly measure of GDP has not recovered to its pre-Covid peak yet.” Quarterly GDP was 0.2pc below its pre-pandemic level. Strong growth …

The US economy grew stronger than expected in the second quarter, but consumers are pulling back
1 year, 5 months ago

The US economy grew stronger than expected in the second quarter, but consumers are pulling back

CNN  

Washington CNN — The US economy picked up steam in the second quarter despite punishing rate hikes and still-high inflation, the Commerce Department reported Thursday. Consumer spending, which accounts for about two-thirds of economic output, grew at just a 1.6% rate in the second quarter, down sharply from a 4.2% rate in the first three months of the year. “In …

US economic growth last quarter is revised up sharply to a 2% annual rate
1 year, 6 months ago

US economic growth last quarter is revised up sharply to a 2% annual rate

Associated Press  

WASHINGTON — Showing surprising resilience in the face of higher interest rates, the U.S. economy grew at a 2% annual pace from January through March as consumers spent at the fastest pace in nearly two years. Thursday’s revised figure from the Commerce Department sharply upgraded its assessment of first-quarter growth from its previous estimate of a 1.3% annual rate. Despite …

U.S. economic growth last quarter is revised up sharply to a 2% annual rate
1 year, 6 months ago

U.S. economic growth last quarter is revised up sharply to a 2% annual rate

LA Times  

Jeep Gladiator pickup trucks at a dealership in Englewood, Colo. On Thursday, the Commerce Department issued its final estimate of how the U.S. economy performed in the first quarter of 2023. Thursday’s revised figure from the Commerce Department sharply upgraded its assessment of first-quarter growth from its previous estimate of a 1.3% annual rate. Despite the uptick, the government’s third …

Here's why inflation in the market feels higher than what figures show
1 year, 6 months ago

Here's why inflation in the market feels higher than what figures show

India Today  

Increases in consumer prices undermine individual and household income. Private consumption expenditure plummeted to its lowest point in the past four years, reaching 60.6 per cent during the fiscal year of 2023. The estimates indicate a 16.1 per cent increase in GDP value in the financial year 2023 due to rising inflation, which is more than twice the real GDP …

Beating estimates, India’s GDP expands 7.2% in FY23
1 year, 7 months ago

Beating estimates, India’s GDP expands 7.2% in FY23

Live Mint  

India’s economy grew at 7.2% in FY23, beating the 7% official forecast, driven by robust expansion in agriculture, construction, and services sectors and a rebound in manufacturing in the March quarter, data released by the National Statistical Office on Wednesday showed. Farm sector output expanded at a robust 5.5% adjusted for inflation, while the manufacturing sector rebounded from two consecutive …

US economy slows sharply in January-March quarter
1 year, 8 months ago

US economy slows sharply in January-March quarter

Al Jazeera  

The US economy slowed sharply from January through March, decelerating to just a 1.1 percent annual pace as higher interest rates hammered the housing market and businesses reduced their inventories. “We continue to expect the drag from higher interest rates and tightening credit conditions to push the economy into a mild recession soon.″ Many economists have said the cumulative impact …

Data dissonance: The Hindu Editorial on the revised GDP estimates
1 year, 10 months ago

Data dissonance: The Hindu Editorial on the revised GDP estimates

The Hindu  

The National Statistical Office’s latest release of GDP data estimates a further deceleration in growth in the October-December 2022 quarter, a slowdown that the government’s Chief Economic Adviser has attributed largely to an upward revision in the year-earlier period’s figures. Gross Value Added growth slowed to 4.6%, from the second quarter’s 5.5%, as the estimates for manufacturing suggested a continuing …

GDP data has a pointer for India’s budgetary direction
2 years, 1 month ago

GDP data has a pointer for India’s budgetary direction

Live Mint  

India’s real gross domestic product grew by 6.3% during the July-September quarter of 2022-23, in line with some forecasts, but was undergirded by the sense of an impending slowdown. Coming soon on the heels of finance minister Nirmala Sitharaman wrapping up her pre-Budget consultation meetings with different stakeholders, the data provides a pointer to the desired direction for India’s FY24 …

As GDP figures are announced, Australia's economy faces two economic realities
2 years, 7 months ago

As GDP figures are announced, Australia's economy faces two economic realities

ABC  

Australia's economy is just fine, thanks. Well, the Reserve Bank's May Monetary Policy Statement said: "More broadly, the Australian economy remains resilient and is expected to grow strongly this year. In March, the Treasury stated: "Economic growth forecasts have been revised upwards, driven by stronger than expected momentum in the labour market and consumer spending." Beyond consumer spending Again, according …

US economy unexpectedly shrinks in 2022’s first quarter
2 years, 8 months ago

US economy unexpectedly shrinks in 2022’s first quarter

Al Jazeera  

The U.S. economy unexpectedly shrank last quarter for the first time since 2020 as the trade deficit ballooned, adding to political headaches for President Joe Biden but unlikely to sway the Federal Reserve from hiking interest rates aggressively to combat inflation. Gross domestic product fell at a 1.4% annualized rate as surging imports and softer inventory growth more than offset …

UK economic growth slows in February as cost-of-living crisis starts to bite
2 years, 9 months ago

UK economic growth slows in February as cost-of-living crisis starts to bite

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Suren Thiru, head of economics at the British Chambers …

UK GDP: Recovery still lagging other G7 economies as growth slows
3 years, 2 months ago

UK GDP: Recovery still lagging other G7 economies as growth slows

CNN  

London CNN Business — UK GDP growthslowed between July and September, leaving the economy still around 2% smaller than it was before the pandemic and trailing the recovery in other G7 nations. The UK economy, struggling with supply chain disruptions and high energy prices, expanded by 1.3% in the quarter, down from growth of 5.5% in the previous three-month period …

Tenuous revival: On boosting Indian economy
3 years, 7 months ago

Tenuous revival: On boosting Indian economy

The Hindu  

The national income estimates released by the NSO posit an economy that appears to have found some footing in the January-March quarter before the pandemic’s second wave hit. GDP expanded by 1.6% in the final quarter of the last fiscal, an acceleration from the 0.5% growth in the preceding three-month period, that marginally softened the extent of the full-year’s record …

Govt consumption key to support demand growth in economy, says RBI
4 years, 4 months ago

Govt consumption key to support demand growth in economy, says RBI

India Today  

Indian government consumption will support current economic demand while private consumption is likely to lead a recovery that takes hold after the coronavirus pandemic eases, the central bank said on Tuesday. “Going forward, government consumption is expected to continue pandemic-proofing of demand.” Private consumption will come back gradually with non-discretionary spending leading the way, until a durable increase in disposable …

US consumer spending plunges record 7.5%, reflecting virus
4 years, 8 months ago

US consumer spending plunges record 7.5%, reflecting virus

Associated Press  

WASHINGTON — U.S. consumer spending plunged 7.5% in March, reflecting the growing impact of the coronavirus pandemic as Americans complied with stay-at-home orders. The report said that the country experienced big declines as “consumers canceled, restricted or redirected their spending.” The government reported Wednesday that the overall economy, as measured by the gross domestic product, shrank at an annual rate …

Coronavirus Outbreak: After Moody's, Fitch cuts India GDP growth forecast to 4.6% for FY21; cites weak private consumption
4 years, 9 months ago

Coronavirus Outbreak: After Moody's, Fitch cuts India GDP growth forecast to 4.6% for FY21; cites weak private consumption

Firstpost  

After Moody’s slashed India’s GDP growth during 2020 calendar year to 2.5 percent, from an earlier estimate of 5.3 percent, Fitch Solutions on Monday slashed its estimate for India’s GDP growth in the fiscal starting April 1 to 4.6 percent due to weaker private consumption and contraction in investment amid coronavirus outbreak, costing economies around the globe. “At Fitch Solutions, …

India headed for rare quarterly contraction on lockdown
4 years, 9 months ago

India headed for rare quarterly contraction on lockdown

Live Mint  

India’s economy is poised to shrink next quarter and full-year expansion set to suffer markedly, as a three-week nationwide lockdown starting Wednesday brings activity to a standstill, according to economists including from ING Groep NV and Deutsche Bank AG. Deutsche Bank’s Chief India Economist Kaushik Das expects real GDP growth to collapse in April-June to a negative print of 5% …

IIP has grown just 0.6% this fiscal so far vs 5% in last year; economic recovery depends on how govt spends in Q4
5 years ago

IIP has grown just 0.6% this fiscal so far vs 5% in last year; economic recovery depends on how govt spends in Q4

Firstpost  

It will take a few more months to understand whether the uptick in the November factory output indicates the beginning of a revival trend During the eight months of this fiscal year so far, the Index of Industrial Production growth has averaged just 0.6 percent as compared to 5 percent average growth in the same period the previous fiscal. In …

Opinion | The economy is a mess: Can the government do anything?
5 years ago

Opinion | The economy is a mess: Can the government do anything?

Live Mint  

Good news about the economy is rare. The unemployment rate, always high among the educated, is much higher, while the poor in rural India are experiencing diminishing employment opportunities and stagnant real wages. The enormous opportunity created by the sharp drop in world oil prices in 2014, followed by a downturn in world commodity prices, was entirely lost by the …

Data:How government expenditure drove India’s GDP growth in the July to September quarter
5 years, 1 month ago

Data:How government expenditure drove India’s GDP growth in the July to September quarter

The Hindu  

In the latest quarter, India’s Gross Domestic Product grew at the slowest pace in 6.5 years. Slump continues Fuelled by the government Private Final Consumption Expenditure which reflects consumption picked up marginally in the latest quarter. Government help As it can be seen from the chart, the 4.5% growth achieved in the latest quarter was primarily fuelled by government spending …

Non-govt GDP growth paints a grimmer picture
5 years, 1 month ago

Non-govt GDP growth paints a grimmer picture

Live Mint  

How much did non-govt GDP grow? This grew 3.05% in July-September and was 150 basis points lower than overall growth of 4.55%. The government expenditure grew by a whopping 15.64% and in the process pushed up economic growth to 4.55%, though a large part of the economy grew by just 3.05%. This has been the trend largely over the last …

Data point: Economic slowdown explained in 4 charts
5 years, 4 months ago

Data point: Economic slowdown explained in 4 charts

The Hindu  

With both the private consumption growth and investment rate dropping below 5% in Q1 FY2020, the GDP growth rate has fallen to 5%. Nominal GDP growth has slid to 8%, a record low. Distinct Slowdown Both nominal GDP and real GDP grew at the slowest-ever pace since the NDA took charge in 2014. Sectoral crises From 12.1% growth in April-June …

GDP slump signals significant deceleration in investment, consumption: FICCI
5 years, 4 months ago

GDP slump signals significant deceleration in investment, consumption: FICCI

India TV News  

India's economic growth dropping to an over six-year low of 5 per cent in April-June 2019 is indicating a "significant deceleration" in both investment and consumer demand, industry body Ficci said on Saturday. Expressing "deep" concerns over sluggishness in the growth momentum, Ficci President Sandip Somany said "the latest GDP growth numbers are below expectations and point towards a significant …

GDP growth slips to 5%: There may be more bad news coming before things get better; economy must be sole focus now
5 years, 4 months ago

GDP growth slips to 5%: There may be more bad news coming before things get better; economy must be sole focus now

Firstpost  

India could have been on a stronger wicket if the first Narendra Modi government had not missed several opportunities to strengthen the economy. The investment rate slipped from 28.8 percent in Q1 of 2018-19 to 27.9 percent in Q1 of the current fiscal, which is also lower than the 30.2 percent logged in Q4 of the previous fiscal. But India …

GDP growth falls to over six-year low of 5% in June quarter
5 years, 4 months ago

GDP growth falls to over six-year low of 5% in June quarter

Live Mint  

Indian economy or GDP expanded at lower-than-expected 5% year on year in the April-June quarter, the slowest in over six years, driven by weak investment growth and sluggish demand. Last week, Finance Minister Nirmala Sitharaman announced a number of steps to revive economic growth and shore up market confidence, including rolling back recent tax hikes on foreign and domestic equity …

Slowdown in consumption: India Ratings cut GDP forecast to 6.7% for current fiscal from earlier estimate of 7.3%
5 years, 4 months ago

Slowdown in consumption: India Ratings cut GDP forecast to 6.7% for current fiscal from earlier estimate of 7.3%

Firstpost  

New Delhi: India Ratings on Wednesday lowered the country’s growth forecast to six-year low of 6.7 percent for the current fiscal from an earlier estimate of 7.3 percent on account of slowdown in consumption and moderation in industrial growth among other factors. However, average investment growth, largely constituting government and corporate sector maintenance capex, at 9.2 percent during 2016-17 to …

GDP growth stutters in new headache for govt
6 years, 1 month ago

GDP growth stutters in new headache for govt

Live Mint  

New Delhi: India’s economy expanded at a slower-than-expected pace of 7.1% in the fiscal second quarter despite a lower base, prompting analysts to cut their growth estimates for the full year. The GDP data, released by the Central Statistics Office, or CSO, two days after the back series data spurred a political slugfest, reaffirms that the first quarter growth of …

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