India's economy expanded by 5.4% in the second fiscal quarter ending September, falling short of economist and Reserve Bank of India forecasts. Chief Asia-Pacific economist Alicia Garcia Herrero predicts a slowdown but not a collapse in 2025.
Economists had forecast GDP growth of 6.5% for the period, according to a Reuters poll. The Reserve Bank of India had forecast an expansion of 7% for the quarter.
India's economy expanded by just 5.4% in its second fiscal quarter ending September, well below estimates by economists and close to a two-year low.The print follows 6.7% growth over the previous quarter and came in below expectations for a 6.5% clip, according to economists polled by Reuters. The RBI also noted in October that consumer and business confidence had improved and that"external demand is expected to get support from improving global trade volumes."" before the GDP release, Alicia Garcia Herrero, chief Asia-Pacific economist at Natixis, forecast that India's economy will slow but not"collapse" in 2025.
Separately, the RBI projected that GDP growth for the 2024 fiscal year ending in March 2025 will reach a higher 7.2%.
India GDP Growth Economists Reserve Bank Of India Agriculture Sector Consumer Spending
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