India Economic Outlook
August 25, 2020
The economy likely declined at one of the sharpest paces on record in Q1 FY 2020 (April–June) as lockdown measures remained in place for most parts of the country and, in turn, hammered economic activity. The private-sector PMI averaged significantly lower in the quarter compared to the previous period, indicating sharp deteriorations in the manufacturing and services sectors. Meanwhile, despite a softer contraction in industrial production in June, output fell severely in Q1 FY 2020. Turning to Q2 FY 2020, the economy remains gloomy, with the composite PMI for July dipping due to a sharper deterioration in the manufacturing sector, unemployment remaining elevated, and the threat of extended lockdown restrictions amid heightened new Covid-19 cases likely weighing on business and consumer confidence.India Economic Growth
The economy is expected to contract sharply in FY 2020 due to containment measures hampering domestic activity, and amid anemic external demand. A major downside risk is a prolongation of lockdown measures. On a brighter note, fiscal stimulus and a more accommodative monetary policy should support the economy, although the rising fiscal deficit clouds the outlook. Our panelists project GDP to fall 5.0% in FY 2020, which is down 1.0 percentage point from last month’s forecast, and increase 7.6% in FY 2021.India Economy Data
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
India Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 6.50 | -0.04 % | Jan 01 |
| Exchange Rate | 71.23 | -0.09 % | Jan 01 |
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
India Economic News
-
India: Merchandise exports slide at sharper pace in August
September 15, 2020
Merchandise exports shrank 13.1% year-on-year in August (July: -10.2% year-on-year).
-
India: Private sector PMI improves to a five-month high
September 3, 2020
The composite Purchasing Managers’ Index (PMI) produced by IHS Markit rose to 46.0 in August from 37.2 in July.
-
India: GDP records largest drop on record in Q2
August 31, 2020
Economic output plummeted 23.9% year-on-year in the second quarter of CY 2020 (FY Q1 2020), contrasting the 3.1% expansion seen in the first quarter (FY Q4 2019) and marking the worst reading since current records began in 1996.
-
India: Private sector PMI ticks down slightly in July
August 4, 2020
The composite Purchasing Managers’ Index (PMI) produced by IHS Markit eased marginally to 37.2 in July from 37.8 in June.
-
India: Private sector PMI continues gradual recovery in June
July 3, 2020
The composite Purchasing Managers’ Index (PMI) produced by IHS Markit climbed to 37.8 in June from 14.8 in May.
© Copyright: 2020. | India Economy | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed
