According to the latest Reuters poll of economists, India’s economy is expected to have expanded by 7.6% in the April-June quarter, in light of an improvement in the manufacturing and exports sector.
Key Findings:
“The median consensus in a poll of 50 economists put annual economic growth just a touch lower than the near two-year high of 7.7 percent in the January-March quarter.
Forecasts for the $2.59 trillion economy ranged between 7.0 and 8.0 percent.
The poll results suggest domestic demand was strong, driven primarily by manufacturing activity that remained solid despite elevated oil prices and a weakening Indian rupee.
If the median prediction for the April-June quarter proves correct, it was will be the third period in a row with 7 percent or higher growth.
India’s fiscal deficit widened in the April-June quarter to 68.7 percent of the budgeted target for this fiscal year, a concern but an improvement 80.8 percent for the same period of 2017.”
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