INSTANT VIEW 4-India's economy shrinks 7.5% y/y in July-Sept quarter [Reuters]
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Source: Reuters
INSTANT VIEW 3-India's economy shrinks 7.5% y/y in July-Sept quarter By Reuters Staff 5 Min Read BENGALURU, Nov 27 (Reuters) - India’s economy contracted 7.5% in the quarter to September, according to official data on Friday, showing some signs of a pick-up after the easing of pandemic restrictions that triggered a record contraction in the previous quarter. The read-out for the September quarter was better than the 8.8% contraction forecast of analysts in a Reuters poll. COMMENTARY KUNAL KUNDU, INDIA ECONOMIST, SOCIETE GENERALE, BENGALURU “While farm sector growth was in line with our expectation, it appears that substantial inventory building in anticipation of pent-up and festival period-led demand provided a boost to the manufacturing activity. That said, we believe that a rather low GDP deflator has resulted in higher-than-expected real GDP growth. But with signs of emerging fatigue in recent demand uptick and the second wave of infection already impacting economic activity, we
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