India's December quarter GDP growth likely to be 7%: Report
What's the story
According to a recent report by Morgan Stanley, India's economic recovery is expected to have gathered momentum and GDP growth for the December quarter is likely to have accelerated to 7 percent. India's Gross Domestic Product (GDP) grew by 6.3 percent in July-September quarter of the fiscal, up from 5.7 percent in the first quarter. Here are the details.
The growth
What about the individual sectors?
According to the global financial services major, growth in the industry and services sector is expected to have accelerated while growth in the agriculture sector decelerated. "We expect the economic recovery to have gathered further momentum with GDP growth accelerating to 7.0 percent year-on-year in the December-17 quarter from 6.3 percent in the September quarter," Morgan Stanley said in a research note.
Details
Growth picked up 6.7 percent from 6.1 percent
In GVA terms, growth picked up further to 6.7 percent year-on-year from 6.1 percent in the previous quarter, the brokerage firm said. According to the report, corporate revenue trends, which track industry GVA growth closely, also improved further in the December quarter. Moreover, auto and two-wheeler sales posted robust growth in the December quarter beyond what was implied.