Industry keeps overall GDP growth weak at 5.3%: CRISIL Research
This is the lowest industry growth in Q2 since 2004.
Services, the best performing among the three sectors, grew only at 7.2 per cent in Q2FY13, much lower than Q2FY12. Private consumption growth remained muted at 3.7 per cent due to depressed consumer sentiment and high interest rates. Exports witnessed a sharp slowdown reflecting weak global demand.
Given the global economic environment and the domestic policy hurdles, GDP growth is expected to remain subdued over the remaining quarters of this fiscal as well. We, therefore, expect GDP to grow at 5.5 per cent during FY13. Although government has announced some reforms and policy measures recently to revive growth, they will take a while to play out.
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India Infoline Research Team / 08:41, Oct 09, 2015
The Indian market too is expected to get off to a positive start. The Nifty looked geared to rally towards the 8300 mark but indices took a breather on Thursday.