Economist at UOB Group Barnabas Gan reviewed the performance of the industrial sector in the Indian economy. Key Quotes “India’s industrial production fell 16.6% y/y in June 2020, clocking four straight months of contraction. Accounting for the latest print, India’s 1QFY20/21 industrial production fell 35.9% y/y, down from +3.0% y/y in the same period last year.” “The fall in industrial production was dragged by the sustained plunge in India’s core industries performance (-15.0% y/y) in June.” “Nonetheless, the pace of contraction has eased substantially from April’s decline of 57.6%, suggesting that manufacturing momentum has gradually improved after India exited from its nationwide lockdown on 20th April 2020.” “There remains a high degree of uncertainty surrounding the COVID-19 pandemic and its impact on global growth. Due to the evolving COVID-19 situation worldwide, India’s external environment and manufacturing momentum may stay in contraction zone at least till the end of 2020. We downgrade our forecast for India’s industrial production to contract by 15.0% in FY2020/21, down from our prior outlook of -4.0%.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Silver is rising as bargain-seekers seize potentially huge discount for committed bulls FX Street 2 years Economist at UOB Group Barnabas Gan reviewed the performance of the industrial sector in the Indian economy. Key Quotes “India’s industrial production fell 16.6% y/y in June 2020, clocking four straight months of contraction. Accounting for the latest print, India’s 1QFY20/21 industrial production fell 35.9% y/y, down from +3.0% y/y in the same period last year.” “The fall in industrial production was dragged by the sustained plunge in India’s core industries performance (-15.0% y/y) in June.” “Nonetheless, the pace of contraction has eased substantially from April’s decline of 57.6%, suggesting that manufacturing momentum has gradually improved after India exited from… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
