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According to analysts at TD Securities,  India’s economy is expected to have slowed further in Q2 19 (Q1 FY 19/20), with a 5.6% y/y (market 5.7%) pace of growth likely in their view, following a 5.8% y/y increase in the previous quarter.

Key Quotes

“Weaker global and domestic demand will have weighted on activity. High frequency data have been on a downward trajectory, with for example sales of cars, consumer durables and passenger air traffic sliding. Separately, weak credit intermediation and softening business sentiment will have contributed to declining investment spending.”