Locked-down Indian economy in its worst quarter since mid-1990s: Reuters poll [Reuters]
Morgan Stanley (MS)
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Source: Reuters
Locked-down Indian economy in its worst quarter since mid-1990s: Reuters poll BENGALURU (Reuters) - The Indian economy is likely to suffer its worst quarter since the mid-1990s, hit by the ongoing lockdown imposed to stem the spread of coronavirus, according to a Reuters poll, which predicted a mild and gradual recovery. Over 2.6 million people tmsnrt.rs/3aIRuz7 have been infected by the coronavirus worldwide and more than 180,000 have died. Business and household lockdowns have disrupted supply chains globally, bringing growth to a halt. The April 17-22 Reuters poll predicted the economy expanded at an annual pace of 3.0% last quarter but will shrink 5.2% in the three months ending in June, far weaker than expectations in a poll published last month for 4.0% and 2.0% growth, respectively. The predicted contraction would be the first - under any gross domestic product calculation, which has changed a few times - since the mid-1990s, when official reporting for quarterly data began. “T
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