INDIA GDP DATA TAKEAWAYS
1.India’s Q3 GDP growth slowed to 4.4% partly because an already strong base quarter (q3fy22) has been revised higher
2. Positives from latest data: Fy22 and FY21 GDP revised higher; FY22 from 8.7% to 9.1%; Fy21 from -6.6% to -5.7% 1/3
1.India’s Q3 GDP growth slowed to 4.4% partly because an already strong base quarter (q3fy22) has been revised higher
2. Positives from latest data: Fy22 and FY21 GDP revised higher; FY22 from 8.7% to 9.1%; Fy21 from -6.6% to -5.7% 1/3
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3.What grew in Q3: services like trade-hotels-transport (9.7%) construction (8.4%) &Utilities like power (8.2%)
4. What didn’t: manufacturing (-1.1%), public admn (2%)
5. Personal consumption in Q3 slowed to a measly 2%, but gross fixed capital formation up 8.3%- 2/3
3.What grew in Q3: services like trade-hotels-transport (9.7%) construction (8.4%) &Utilities like power (8.2%)
4. What didn’t: manufacturing (-1.1%), public admn (2%)
5. Personal consumption in Q3 slowed to a measly 2%, but gross fixed capital formation up 8.3%- 2/3
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6. So currently it’s more investment led growth; consumption will hopefully revive post Rabi harvest provided early heat, El-Nino dont hurt
7. Other positive econ data: Jan core sector growth at 7.8% is great; Apr-Jan tax growth at 13%(incl income tax growing 18%)-damn good
6. So currently it’s more investment led growth; consumption will hopefully revive post Rabi harvest provided early heat, El-Nino dont hurt
7. Other positive econ data: Jan core sector growth at 7.8% is great; Apr-Jan tax growth at 13%(incl income tax growing 18%)-damn good
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