India's Q2 GDP growth likely at 7.8%, above RBI estimate of 7.2%: SBI Research
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓India’s economy likely grew 7.8% in the July-September quarter, SBI Research said on November 11.
- ✓This figure beat the Reserve Bank of India’s 7.2% estimate.
- ✓Strong momentum in cement production and exports helped growth, even as mining output fell.
Story at a Glance
- Category
- Indian Markets
- Reported By
- MoneyControl
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
India's economy is likely to have grown 7.8% in the July-September quarter, matching the pace of the previous three months and exceeding the Reserve Bank of India's projection of 7.2%, SBI Research said on November 11. The estimate, based on 54 high-frequency indicators across agriculture, industry and services, showed stronger momentum in cement production, commercial vehicle sales, non-oil exports and port cargo towards the end of the quarter. Mining output, tractor sales and airport passenger traffic, however, weakened. Tractor sales, which rose 11.9% in June, fell 18.1% in September. Mining output swung to a contraction of 6.2% from growth of 1% over the same period.
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