Narratiive Tags - Khaleej Times Desktop
Business
Logo
 

Moody's cuts India's GDP growth forecast to 5.6 per cent for 2019

PTI/New Delhi
Filed on November 14, 2019 | Last updated on November 14, 2019 at 11.34 am
india, business, moodys, gdp, business, growth

(Reuters file)

"We now forecast slower real GDP growth of 5.6 per cent in 2019, from 7.4 per cent in 2018."

Moody's Investors Service on Thursday cut India's economic growth forecast for current year to 5.6 per cent from 5.8 per cent estimated earlier, saying GDP slowdown is lasting longer than previously expected.

"We have revised down our growth forecast for India. We now forecast slower real GDP growth of 5.6 per cent in 2019, from 7.4 per cent in 2018," it said.

It expected economic activity to pick up in 2020 and 2021 to 6.6 per cent and 6.7 per cent, respectively, but the pace to remain lower than in the recent past.

"India's economic growth has decelerated since mid-2018, with real GDP growth slipping from nearly 8 per cent to 5 per cent in the second quarter of 2019 and joblessness rising.

"Investment activity was muted well before that, but the economy was buoyed by strong consumption demand. What is troubling about the current slowdown is that consumption demand has cooled notably," it said.


ERROR: Macro /ads/dfp-ad-article-new is missing!
MORE FROM Business
MORE FROM Khaleej Times
CurrentRequestUnmodified: /apps/pbcs.dll/article?AID=/20100201/ARTICLE/302019913/1036 macro_action: article, macro_profile: , macro_adspot:
 
 
 
 
 
 
KT App Download
khaleejtimes app

All new KT app
is available
for download:

khaleejtimes - android khaleejtimes - ios khaleejtimes - HUAWEI AppGallery