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NEW DELHI (Reuters) - India’s economy returned to growth in the three months to December and the recovery is expected to gather pace as consumers and investors shake off the effects of the coronavirus pandemic, economists said.
FILE PHOTO: Commuters wearing protective face masks travel in a suburban train after authorities resumed the train services for all commuters after it was shut down to prevent the spread of the coronavirus disease (COVID-19), in Mumbai, India, February 1, 2021. REUTERS/Hemanshi Kamani/Files
Fiscal and monetary policy could boost India’s recovery prospects, they said, amid signs of a pick-up in consumer demand and government spending.
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ASIA:
China’s manufacturing sector grew at a markedly slower pace in February than the month before, surveys released over the weekend suggested, even as similar indicators in the US are signaling rapid growth. Chinese purchasing managers indexes have been trending lower since December when officials mandated new lockdowns in some northern cities to contain a rash of coronavirus outbreaks there. February’s service sector PMI was expected to be weak because officials have been exhorting citizens to stay at home. The survey conducted suggests that if China’s export orders don’t recover in March and April, that could signal the nation’s economy is cooling more quickly than many anticipated.
The Gross Domestic Product (GDP) grew 0.4 per cent in the October-December 2020 period compared with the same period a year back, data released by the National Statistics Office on Friday showed.