Market Updates
India's GDP Rebounds 13.5% In Fiscal Q1 2023
Brian Turner
31 Aug, 2022
New York City
India's economy rebounded at 13.5% in the second quarter ending in June from a year ago, slower than the 16.2% estimate set by the Reserve Bank of India.
Household consumption accelerated to 25.9% from 14.4% but construction spending growth dropped to 16.8% from 71.3% a year ago, according to the data released by the National Statistics Office.
Agriculture sector expanded at 4.5% after rising 4.1% in the previous quarter and 2.2% a year ago.
Manufacturing rebounded to 4.8% from the decline of 0.2% and dropped from 49.0% a year ago.
Construction sector recovered to 16.8% from 2.0% in the previous quarter and plunged from 71.3% in the last year.
Services sector, the bulk of the economic activities, increased 17.6% from 5.5% in the previous quarter and 10.5% a year ago.
The relaxing of Covid-19 restrictions powered the economic rebound and lifted the growth at the fastest pace in a year.
But the growth fell short of the estimate set by the Reserve Bank, largely on the account of weaker-than-expected exports and higher-than-expected imports.
International trade activities have been a significant drag on economic growth as the elevated crude oil prices continue to accelerate the trade deficit.
Moreover, the central bank has also lifted the key lending rate by 140 basis points since May, dragging the demand cycle lower.
The RBI has estimated economic growth in the remaining three quarters of 6.2%, 4.1% and 4.0% respectively and the fiscal 2023 economic growth rate of 7.2%.
Annual Returns
| Company | Ticker | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|
Earnings
| Company | Ticker | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|