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Nomura sees 6.3% GDP growth in Q2
The Indian economy is expected to see a rebound in the July-September quarter of this year with a GVA growth rate of 6.3 per cent, says a Nomura report
New Delhi: The Indian economy is expected to see a rebound in the July-September quarter of this year with a GVA growth rate of 6.3 per cent, says a Nomura report. Nomura's proprietary indices suggest that growth bottomed out in the second quarter and a recovery is underway in the third quarter, largely because consumption and investment indicators have improved in the third quarter.
"We expect GVA growth to rise to 6.3 per cent year-on- year in the third quarter from 5.6 per cent in the second quarter, largely in line with the Reserve Bank of India's Q3 forecast of 6.4 per cent," Nomura said in a research note.
The July-September quarter saw strengthening of consumption-related indicators. Rural consumption indicators such as tractor and two- wheeler sales picked up sharply ahead of the festive season, despite weak monsoon.
