India won’t get a V-shaped recovery this time
Bloomberg
June 1 |
Updated on
June 01, 2021
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There are several crucial differences from last year that could make it harder to bounce back
The V-shaped economic recovery that India’s policy makers obsessed over in 2020 did eventually materialise. It won’t be repeated after this year’s Covid-19 carnage.
To see why, start with the fading momentum. Government statistics released Monday showed 1.6 per cent growth in gross domestic product from a year earlier in the March quarter, before a deadly second wave of infections. But this expansion, an improvement over the 0.5 per cent rate in the previous three months, is a statistical artefact. A better metric is seasonally adjusted quarter-on-quarter growth, which Capital Economics calculates at 0.7 per cent, a sharp though largely expected slowdown from 9.5 per cent in the December quarter. (The figures aren’t annualised.)
Photo Credit: IANS
IANSLive
New Delhi, June 1 (IANS) The worst hit to economic activity is limited to May, and a sequential improvement will follow in June, Japanese brokerage Nomura has said in a report.
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