Indian economy set for weakest quarter of growth in five years - Reuters poll

According to the economists polled by Reuters, the Indian economy is likely to grow at the slowest pace in over five years in the April-June (Q1) quarter.

The GDP data is due to be released at 1200 GMT on Friday.

Key Findings:

“The poll median showed the economy was expected to have grown at a year-on-year pace of 5.7% in the June quarter, a touch slower than 5.8% in the preceding three months.

But a large minority - about 40% of nearly 65 economists - expect an expansion of 5.6% or lower.

If the forecast is realized, it would be the weakest start in the first three months of a fiscal year in seven years.

The median response to an extra question in the poll, which was taken Aug. 21-26, showed the average growth rate for the current fiscal year 2019-2020 is likely to be 6.5% despite a weak start.

But it is a downgrade from 6.8% predicted just last month and well below the RBI’s projection of 6.9%.”

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