The Indian economy expanded 3.1 percent year-on-year in the first quarter of 2020, beating market forecasts of a 2.1 percent rise. Still, it is the slowest GDP growth since quarterly data became available in 2004, as the country imposed a nationwide lockdown from March 24th aiming to contain the spread of the coronavirus. On the expenditure side, faster declines were seen for gross fixed capital formation (-6.5% vs -5.2% in Q4) and exports (-8.5% vs -6.1%) while imports fell at a slower pace (-7% vs -12.4%). Also, both private spending (2.7% vs 6.6%) and inventories (0.5% vs 1.1%) slowed sharply. On the production side, output fell for manufacturing (-1.4% vs -0.8%), the third straight quarter of contraction and construction (-2.2% vs 0%) and slowed for trade, hotels and transportation (2.6% vs 4.3%), finance and real estate (2.4% vs 3.3%) and public administration and defense (10.1% vs 10.9%).
| Actual | Previous | Highest | Lowest | Dates | Unit | Frequency |
|
|
|---|---|---|---|---|---|---|---|---|
| 3.10 | 4.10 | 11.40 | -5.20 | 1951 - 2020 | percent | Quarterly |
| Calendar | GMT | Reference | Actual | Previous | Consensus | TEForecast | |
|---|---|---|---|---|---|---|---|
| 2019-11-29 | 12:00 PM | YoY | Q3 | 4.5% | 5% | 4.7% | 4.7% |
| 2020-01-31 | 12:00 PM | Fiscal Year GDP Growth Final | 2018-19 | 6.1% | 7% |
|
5% |
| 2020-02-28 | 12:00 PM | YoY | Q4 | 4.7% | 5.1% | 4.7% | 4.6% |
| 2020-05-29 | 12:15 PM | YoY | Q1 | 3.1% | 4.1% | 2.1% | 1.9% |
| 2020-08-31 | 12:00 PM | YoY | Q2 |
|
3.1% |
|
-8% |
| 2020-11-30 | 12:00 PM | YoY | Q3 |
|
|
|
2.3% |
News Stream
India GDP Growth Slows to 3.1%
The Indian economy
expanded 3.1 percent year-on-year in the first quarter of 2020, beating
market forecasts of a 2.1 percent rise. Still, it is the slowest GDP
growth since quarterly data became available in 2004, as the country
imposed a nationwide lockdown from March 24th aiming to contain the spr... more
2020-05-29
India GDP Growth Remains the Weakest Since 2013
The Indian economy
expanded 4.7% yoy in Q4 2019, matching market expectations and following
an upwardly revised 5.1% expansion in Q3 (4.5% earlier reported). It is
the weakest growth rate since Q1 2013 considering the upward revision
for the previous quarter. On the expenditure side, faster declines... more
2020-02-28
India GDP Growth Revised Down in 2018/19
The Indian economy
expanded 4.5 percent year-on-year in the three months to September of
2019, the weakest pace since the first three months of 2013, mainly due
to a fall in factory output and exports and a slowdown in investment.
For the 2018-19 fiscal year which ended in March 2019, the economy ad... more
2020-01-31
India GDP Growth Seen Slowing to 11-Year Low
India's economy is seen
growing by 5.0 percent in the 2019-20 fiscal year, the slowest pace
since fiscal 2008-09 and significantly slower than a 6.8 percent
expansion recorded in the same period last year, according to the First
Advance Estimates, released by the federal Ministry of Statistics &... more
2020-01-07India GDP Annual Growth Rate
The most
important and the fastest growing sector of Indian economy are services.
Trade, hotels, transport and communication; financing, insurance, real
estate and business services and community, social and personal services
account for more than 60 percent of GDP. Agriculture, forestry and
fishing constitute around 12 percent of the output, but employs more
than 50 percent of the labor force. Manufacturing accounts for 15
percent of GDP, construction for another 8 percent and mining,
quarrying, electricity, gas and water supply for the remaining 5
percent.
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