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A day before the official release of India's Gross Domestic Product (<keyword id="35050" type="General" weightage="20" keywordseo="GDP" source="Orion">GDP</keyword>) figures for <keyword id="21593310" type="General" weightage="20" keywordseo="Q1-FY25" source="keywords">Q1 FY25</keyword>, a report by <keyword id="20548750" type="General" weightage="20" keywordseo="Anand-Rathi" source="keywords" meta.keywordsubtype="org" meta.entityname="Anand Rathi" meta.hostid="261" meta.entityid="Anand Rathi">Anand Rathi</keyword> research estimates the GDP to grow by 7 per cent, primarily driven by the robust performance of the services sector. The financial advisory firm also maintains its full-year <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> projection at 7 per cent, though it warns of potential downside risks. Utilities GVA is expected to rise by 11.5 per cent, while the construction sector has slowed due to election-related disruptions and the impact of heat. The mining sector remains strong, supported by increased coal production. The services sector is expected to be the primary driver of GDP growth in Q1 FY25. Despite reduced <keyword id="20155204" type="General" weightage="20" keywordseo="government-spending" source="keywords">government spending</keyword> ahead of the elections, which is likely to dampen growth in some service sectors, financial, real estate, and professional services are expected to have performed well. This performance is attributed to strong market activity and credit growth. However, the trade and transport sectors present a mixed picture, with some indicators showing improvement while others remain moderate. Overall, Services Gross Value Added (GVA) is expected to grow by 8.2 per cent in Q1 FY25. As per the report, Investment was a key growth driver in FY24, fuelled by government infrastructure projects and a real estate upswing. However, the momentum appears to have slowed in Q1 FY25 due to pre-election restrictions. Despite this, the report predicts a significant rise in government capital expenditure in the coming months, supported by greater budget allocations. The report highlights the changing dynamics of private consumption in India. FY24 saw weak consumption, especially in rural areas, with final consumption expenditure growing by just 3.8 per cent. However, as FY25 begins, there are signs of a rural revival. Indicators such as increased two-wheeler sales and improving Fast-Moving Consumer Goods (FMCG) volume growth signal a rebound in rural demand. In contrast, urban demand continues to show signs of sluggishness. The muted sales of passenger vehicles, weaker retail credit transfers, and flat Goods and Services Tax (GST) collections underscore this trend. While consumption is not expected to see a significant rise in Q1 FY25, the outlook for the remainder of the year appears positive. This optimism is bolstered by anticipated higher agricultural output and sharper government focus on rural areas. The agriculture sector is expected to post a subdued growth of 2.1 per cent in Q1 FY25, affected by scorching heat and uneven rainfall last year, which led to lower reservoir levels and hindered farming activities. However, the outlook is more promising for the remainder of the fiscal year, with better rains and improved sowing conditions expected to boost agricultural output Additionally, a rebound in stamp duty collections suggests buoyant real estate sales. Private capital expenditure, which was previously subdued, is expected to expand in FY25, driven by rising capacity utilisation and strong order books. The industrial sector, which grew by 9.5 per cent in FY24, is expected to see a shift in growth drivers in Q1 FY25. The focus is now moving towards utilities and mining, with manufacturing growth slowing. While government infrastructure projects and private capital expenditure will continue to support industrial growth, the global growth slowdown poses potential risks.

Anand Rathi anticipates Q1 FY25 GDP growth at 7%, a little lower than RBI's estimate of 7.1%

New Delhi [India], March 27 (ANI): After S&amp;P Global, <keyword id="19977638" type="General" weightage="20" keywordseo="morgan-stanley" source="keywords">Morgan Stanley</keyword> has revised its <keyword id="44910" type="General" weightage="20" keywordseo="gdp-growth" source="Orion">GDP growth</keyword> forecast upwards for the financial year 2024-25 (FY25) to 6.8 per cent, up from its previous estimate of 6.5 per cent. The firm also revised its growth forecast for the ongoing financial year, FY24, to 7.9 per cent. The revised projections come in the wake of an optimistic outlook on India's economic trajectory, with Morgan Stanley highlighting the country's strength and stability as hallmarks of the current cycle. The firm anticipates a shallow easing cycle in monetary policy, driven by continued traction in industrial and capital expenditure activities. According to Morgan Stanley, the outlook for India's GDP growth remains robust, with the expectation that growth will track around 7 per cent in the fourth quarter of the financial year 2023-24 (QE Mar-24). This growth momentum is expected to be broad-based, with the gaps between rural-urban consumption and private-public capital expenditure narrowing in FY25. The firm also anticipates a favourable inflation trajectory, with recent trends indicating a softening in headline inflation. Food inflation, which carries significant weight in the CPI basket, has moderated, providing relief from supply-side shocks. Furthermore, core inflation has seen meaningful moderation, driven by easing in supply chains and subdued price pressures. Looking ahead, Morgan Stanley expects headline inflation to average 4.5 per cent in FY25, down from 5.4 per cent in FY24, while core inflation is projected to remain muted at 4.1 per cent. The firm anticipates a continuation of supply-chain normalisation along with easing commodity price pressures, contributing to the disinflation trend. Despite the positive economic outlook, Morgan Stanley highlights potential risks stemming from global factors and domestic uncertainties. Slower-than-expected global growth, higher commodity prices, and tighter global financial conditions pose risks to India's growth and macroeconomic stability. Domestically, factors such as central elections and changes in policy mix warrant close monitoring. (ANI)

Morgan Stanley raises India's GDP growth forecast to 6.8% for FY25

New Delhi, India's economy grew 7.6 per cent in the September quarter of this fiscal and remained the fastest-growing large economy, mainly due to better performance by manufacturing, mining and services sectors, the government data showed on Thursday. The gross domestic product (GDP) expanded by 6.2 per cent in the July-September quarter of 2022-23. India remained the fastest-growing major economy, as China posted a 4.9 per cent growth in July-September 2023. According to the National Statistical Office (NSO) data, the agriculture sector GVA (Gross Value Added) growth decelerated to 1.2 per cent in the September 2023 quarter from 2.5 per cent a year ago. The expansion in financial, real estate and professional services' GVA was 6 per cent, down from 7.1 per cent in the year-ago quarter. The GVA in the manufacturing sector showed a growth of 13.9 per cent in the second quarter of the current fiscal compared to a contraction of 3.8 per cent in the year-ago period. As per the data, the output (GVA) in the 'mining and quarrying' accelerated to 10 per cent in the second quarter against a contraction of 0.1 per cent a year ago. Electricity, gas, water supply and other utility services' grew by 10.1 per cent from 6.1 per cent. The construction sector recorded a growth of 13.3 per cent year-on-year in the second quarter compared to 5.7 per cent. The growth in gross domestic product (GDP) during the April-June quarter of 2023-24 remained unchanged at 7.8 per cent. "Real GDP or GDP at Constant (2011-12) Prices in Q2 2023-24 is estimated to attain a level of Rs 41.74 lakh crore, as against Rs 38.78 lakh crore in Q2 2022-23, showing a growth of 7.6 per cent as compared to 6.2 per cent in Q2 2022-23," the NSO said in a statement. Nominal GDP or GDP at current prices in Q2 2023-24 is estimated at Rs 71.66 lakh crore against Rs 65.67 lakh crore in Q2 2022-23, showing a growth of 9.1 per cent as compared to 17.2 per cent in Q2 2022-23, it added. It further said the GDP at constant (2011-12) prices in April-September 2023-24 (H1 2023-24) is estimated at Rs 82.11 lakh crore against Rs 76.22 lakh crore during the corresponding period of the previous year, showing a growth of 7.7 per cent in H1 2023-24 compared to 9.5 per cent in H1 2022-23, it said. GDP at current prices in H1 2023-24 is estimated at Rs 142.33 lakh crore compared to Rs 131.09 lakh crore during the corresponding period of the previous year, showing a growth of 8.6 per cent in H1 2023-24 against 22.2 per cent in H1 2022-23. Meanwhile, the output of eight key infrastructure sectors jumped 12.1 per cent in October 2023 against 0.7 per cent expansion in the year-ago period on account of a sharp uptick in production of coal, steel, cement and electricity, according to the official data. The government's fiscal deficit at the end of October touched 45 per cent of the full-year budget estimate, according to data released by the Controller General of Accounts (CGA) on Thursday.

India's GDP grows 7.6% in September quarter, beats RBI estimates

<ul class="summary-list"><li>Goldman Sachs cut its US <keyword id="11921645" type="UNKNOWN" weightage="60" keywordseo="gdp-forecast" source="Orion">GDP forecast</keyword> for 2021 and 2022 based on the hit to consumer spending from Covid-19.</li><li>The bank downgraded its 2021 forecast to 5.6% from 5.7% and its 2022 forecast to 4% from 4.4%. </li><li>The global semiconductor shortage was another factor it said likely "won't improve".</li></ul>Investment bank Goldman Sachs cut its forecast for US economic growth for a third month in a row, based on the twin impacts from Covid-19 on consumer spending and the global supply shortage of semiconductors, according to a note to clients on Sunday.The bank downgraded its forecast for annual <keyword id="12289424" type="UNKNOWN" weightage="60" keywordseo="gross-domestic-product" source="Orion">gross domestic product</keyword> (<keyword id="11921644" type="UNKNOWN" weightage="60" keywordseo="gdp" source="Orion">GDP</keyword>) growth for 2021 to 5.6% from 5.7% previously and to 4% from a prior estimate of 4.4% for 2022. "After updating our estimates of the key growth impulses that drive our consumption forecast-reopening, fiscal stimulus, pent-up savings, and wealth effects-and incorporating a longer-lasting virus drag on virus-sensitive consumer services spending, we now expect a more delayed recovery in consumer spending," economist Joseph Briggs said in the note. This is the third month in a row that the bank has cut its GDP <a href="https://markets.businessinsider.com/news/stocks/economic-outlook-us-gdp-2021-goldman-sachs-forecast-delta-variant-2021-9">forecast</a>. Two factors were mostly to blame: the fact that Covid-19 has eroded consumer spending and the semiconductor supply crunch, which many economists do not expect to <a href="https://markets.businessinsider.com/news/commodities/supply-chains-chip-shortage-auto-semiconductor-sectors-ford-toyota-tsmc-2021-08">improve</a> until next year.Remote working has meant that, for example, instead of spending money on lunch outside the home, people have instead prepared home-cooked meals, and are not yet fully ready to return to more normal types of activity, the note said. Households said they were less than 50% comfortable going to concerts, theaters, or resuming international travel, according to the note. Goldman also cut its forecast for fourth-quarter growth this year to 5.6% from 5.7%, and cited a reduction in fiscal support as another contributing factor, as the Federal Reserve prepares to wind down some of the measures it put in place to protect the economy during the pandemic. "Fiscal support is set to step down significantly through the end of the year. Although we maintain a positive outlook for household income because a recovering labor market and firm wage growth- particularly among low-wage workers-should keep income above its pre-pandemic trend through end-2022, the decline in transfer income will likely cause a pullback in spending for some households," Briggs wrote.In addition to the steps the Fed has taken to stave off recession, the US House of Representatives passed a $1.2 trillion <a href="https://www.businessinsider.com/stimulus-house-passes-covid-relief-package-2021-3?r=US&amp;IR=TIR=T">stimulus </a>package back in March to shore up the economy, including stimulus payments to ordinary Americans, weekly jobless benefits and more. Goldman Sachs left its forecast for the US <keyword id="11898806" type="UNKNOWN" weightage="60" keywordseo="unemployment" source="Orion">unemployment</keyword> rate unchanged. The bank expects it to fall to 4.2% by the end of 2021 and 3.5% by 2022, based on the most recent jobs report. The unemployment rate fell by 0.4% to 4.8% in September, the U.S. Bureau of Labor Statistics reported Friday.

Goldman Sachs cuts its US GDP forecast for the 3rd month in a row because of the "virus drag" on consumer spending and the global semiconductor crunch

Top 10 countries with the highest GDP in 2024! See where India stands

New Delhi, Global rating agency Moody's has raised India's growth forecast to 6.7 per cent from 5.5 per cent for 2023. At the same time though, it has lowered the <keyword id="35050" type="General" weightage="20" keywordseo="GDP" source="Orion">GDP</keyword> forecast for 2024 from 6.5 per cent to 6.1 per cent. "Since the second quarter out performance creates a high base in 2023, we have lowered our 2024 growth forecast from 6.5 percent to 6.1 per cent. Given the robust underlying economic momentum, we also recognise further upside risk to India's economic growth performance," it said on Friday. Moody's 6.7 per cent growth forecast for 2023 is slightly higher than RBI's projection of 6.5 per cent for 2023-24. India has recorded a growth of 7.8 per cent in the first quarter of the current fiscal, which was lower than RBI's projection of 8 per cent for the April-June period of 2023-24.

Moody's raises India's GDP forecast to 6.7% for 2023

<ul class="summary-list"><li>US <keyword id="6354971" type="DEFINITION" weightage="60" keywordseo="gross-domestic-product">gross domestic product</keyword> fell at a 4.8% annualized rate in the first quarter, according to Commerce Department figures <a href="https://www.bea.gov/news/2020/gross-domestic-product-1st-quarter-2020-advance-estimate">released Wednesday</a>. </li><li>The report showed that the longest-ever economic expansion that started following the Great Recession has officially ended. </li><li>Now, economists are watching to see how bad second quarter <keyword id="35050" type="CITY" weightage="60" keywordseo="gdp">GDP</keyword> may slump as the <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword> pandemic continues in the US.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>The longest-ever US economic expansion is officially over. US gross domestic product fell at a 4.8% annualized rate in the first quarter, according to Commerce Department figures <a href="https://www.bea.gov/news/2020/gross-domestic-product-1st-quarter-2020-advance-estimate">released Wednesday</a>. Economists expected that GDP would shrink by a 3.8% annualized rate in the first quarter, according to Bloomberg data. The slump from January through March reflects the sharp economic impact of country-wide shutdowns to curb the spread of Covid-19. In March, most of the US went into lockdown mode — states banned non-essential business, sent workers home, and told residents to practice social-distancing."Today's first quarter numbers are just the deeply unappetizing appetizer," wrote Ian Shepherdson, chief economist of Pantheon Macroeconomics, in a Wednesday note. The <keyword id="2607562" type="PERSON" weightage="60" keywordseo="GDP-contraction">GDP contraction</keyword> has ended the longest-ever economic expansion that took place in the US after the Great Recession of 2007-2009. During the record expansion, the unemployment rate fell to a 50-year low of 3.5%, and the US <keyword id="34412" type="ORGANIZATION" weightage="60" keywordseo="economy">economy</keyword> added jobs for 113 months in a row. Read more: <a href="https://www.businessinsider.com/best-small-cap-stock-picks-consumer-sector-manager-ken-korngiebel-2020-4">The manager of the best small-cap fund of the past 20 years explains why he's betting big on a consumer recovery — and shares his top 4 stock picks in the struggling sector</a>Now, it's likely that a coronavirus-induced recession started in the first quarter. A <a href="https://www.businessinsider.com/economic-recession-signals-how-fast-slowdown-hitting-us-coronavirus-pandemic-2020-4#5-consumer-sentiment-5">slew of economic indicators</a> point to extreme fallout in the US economy.In just five weeks, <a href="https://www.businessinsider.com/us-weekly-jobless-claims-labor-market-unemployment-filings-coronavirus-recession-2020-4">26 million Americans have filed for unemployment claims</a>, effectively erasing more than a decade of job creation in just over a month. In addition, <a href="https://www.businessinsider.com/us-factory-output-march-declines-most-since-coronavirus-halt-industrial-2020-4">industrial production</a> has fallen, <a href="https://www.businessinsider.com/us-retail-sales-post-record-fall-march-amid-coronavirus-outbreak-2020-4">retail sales have declined</a> at a record pace, and <a href="https://www.businessinsider.com/us-existing-home-sales-fell-march-coronavirus-outbreak-housing-market-2020-4">housing sales have slumped</a>.While some economists mark the beginning of a recession as two consecutive quarters of GDP contraction, official arbiters have a more comprehensive approach. The National Bureau of Economic Research <a href="https://www.nber.org/cycles.html">says a recession is</a> "a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales." Any official call will take some time, as the bureau's Business Cycle Dating Committee weighs whether a recession began in March, when much of the US was shut down amid the coronavirus pandemic, or if the economy started trailing off at the end of February. Going forward, economists will be watching to see how bad the situation becomes and weigh what shape a recovery might take. The worst may be yet to come — first quarter GDP could be revised even lower as more data is collected.In addition, second quarter GDP is expected to fall at an even sharper annualized rate. Economists expect major slumps, ranging from<a href="https://www.businessinsider.com/economic-forecasts-bofa-slashes-us-coronavirus-unemployment-gdp-recession-jobs-2020-4"> Bank of America's -30% </a>estimate to <a href="https://www.cnbc.com/2020/04/09/jpmorgan-now-sees-economy-contracting-by-40percent-and-unemployment-reaching-20percent.html">JPMorgan's -40% forecast.</a>Read the original article on <a href="https://www.businessinsider.com/us-gdp-falls-first-quarter-impact-coronavirus-economy-recession-economy-2020-4">Business Insider</a>

US GDP slumped 4.8% in the first quarter, ending the longest economic expansion on record

<ul class="summary-list"><li>US <keyword id="6354971" type="DEFINITION" weightage="60" keywordseo="gross-domestic-product">gross domestic product</keyword> could slump by 42.8% in the second quarter, the Federal Reserve of Atlanta's <a href="https://www.frbatlanta.org/cqer/research/gdpnow?panel=4">GDPNow forecasting model showed Friday</a>.</li><li>A week earlier, the model forecast a 34.9% slump during the period. </li><li>In the last week, <a href="https://www.businessinsider.com/economic-indicators-show-continued-impact-coronavirus-recession-economy-downturn-lows-2020-5">a slew of negative reports</a> showed further damage to the US <keyword id="34412" type="ORGANIZATION" weightage="60" keywordseo="economy">economy</keyword> from lockdowns to contain COVID-19. </li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>The Federal Reserve Bank of Atlanta came out with its own dismal estimate for the US economy amid the <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword> pandemic. US gross domestic product could slump by 42.8% in the second quarter, the bank's <a href="https://www.frbatlanta.org/cqer/research/gdpnow?panel=4">GDPNow forecasting model showed Friday</a>. The model a week earlier estimated a contraction of 34.9% for the period, which includes April through June. In the last week, <a href="https://www.businessinsider.com/economic-indicators-show-continued-impact-coronavirus-recession-economy-downturn-lows-2020-5">a slew of new reports</a> showed further damage to the US economy, likely pushing the forecasting model lower — it is best viewed as a "running estimate of real <keyword id="44910" type="PERSON" weightage="60" keywordseo="GDP-growth">GDP growth</keyword> based on available data for the current measured quarter," according to the bank. US weekly jobless claims showed that an additional <a href="https://www.businessinsider.com/us-weekly-jobless-claims-unemployment-filings-recession-labor-market-coronavirus-2020-5">3 million Americans filed for unemployment</a> in one week, bringing the eight-week total to 36.5 million. In addition, <a href="https://markets.businessinsider.com/news/stocks/us-retail-sales-april-record-drop-coronavirus-econonmy-recession-2020-5-1029206576?utm_campaign=browser_notification&amp;utm_source=desktopktop">retail sales plunged 16.4% in April</a>, the worst drop on record as the crisis froze consumer spending. Read more: <a href="https://www.businessinsider.com/stock-market-crash-economic-depression-coronavirus-david-tice-us-forecast-2020-5">'We have a depression on our hands': The CIO of a bearish $150 million fund says the market will grind to new lows after the current bounce is over — and warns 'a lot more pain' is still to come</a>In the first quarter, <a href="https://www.businessinsider.com/us-gdp-falls-first-quarter-impact-coronavirus-economy-recession-economy-2020-4">US GDP contracted by 4.8%</a>, ending the longest economic expansion on record. Still, the first quarter slump reflected only the first few weeks of the coronavirus pandemic, meaning there's worse to come. The Fed model is only slightly worse than other estimates for how much economic damage the US will see in the second quarter from sweeping lockdowns to curb the spread of COVID-19. Goldman Sachs recently updated its forecast and thinks <keyword id="293989" type="ORGANIZATION" weightage="60" keywordseo="US-GDP">US GDP</keyword> will slump 39% in the second quarter. JPMorgan's estimate is for a <a href="https://www.forbes.com/sites/sergeiklebnikov/2020/04/10/jpmorgan-forecasts-20-unemployment-and-40-hit-to-second-quarter-gdp/#3d33dda54489">GDP slump of 40%</a>, tied with Deutsche Bank's <a href="https://www.businessinsider.com/us-economy-gdp-will-shrink-second-quarter-deutsche-bank-coronavirus-2020-5">forecast for the "painfully evident" damage to the US economy.</a> Still, economists expect that the US economy will rebound following reopening of businesses across the country. Most are forecasting positive <keyword id="35050" type="CITY" weightage="60" keywordseo="gdp">GDP</keyword> growth in the third quarter, reflecting pent-up demand for goods and services during coronavirus-induced lockdowns.Read the original article on <a href="https://www.businessinsider.com/us-gdp-atlanta-fed-could-fall-second-quarter-coronavirus-pandemic-2020-5">Business Insider</a>

US GDP could slump by as much as 42.8% in the 2nd quarter, Atlanta Fed says

<ul class="summary-list"><li>European stocks moved lower on Monday after <keyword id="1370333" type="PERSON" weightage="60" keywordseo="Eurozone-GDP">eurozone GDP</keyword> fell by 3.6%, it's worst fall since 1995, when comparable records began. </li><li>Germany's DAX dropped almost 2%, while the Europe-wide Eurostoxx 50 slid 1.7%.</li><li>US futures also fell, with the S&amp;P 500 looking set to lose 1% at the open, and fall back into negative territory for the year.</li></ul>Global stocks painted a mixed picture on Wednesday, with European stocks pushing down due to gloomy Eurozone <keyword id="35050" type="CITY" weightage="60" keywordseo="gdp">GDP</keyword> results, and stocks in the US looking likely to follow suit at the open.<a href="https://ec.europa.eu/eurostat/cache/infographs/economy/desktop/index.html">GDP in the euro area contracted by 3.6% compared to the previous quarter.</a> This represented the euro area's worst GDP performance since 1995. The drop is the worst in recorded history, as comparable records only started in 1995.In the EU as a whole, including non-Euro countries, GDP fell 3.2% in the quarter.All major European exchanges turned red on Tuesday on the news, with Germany's <a href="https://markets.businessinsider.com/index/dax">DAX</a> down around 2% as of 7.30 a.m. ET.European stocks had been largely supported by a $676 billion boost to Europe's Pandemic Emergency Purchase Programme, bringing the coronavirus rescue <a href="https://www.businessinsider.com/ecb-coronavirus-plan-analysts-react-to-extra-676-billion-pledge-2020-6">package to a total of $1.53 billion. </a>Neil Wilson chief market analyst at <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">Markets</keyword>.com also pointed out stocks are looking to the Fed's meeting that will start later on Monday for direction. "Equity markets in Europe were lower again with investors looking ahead to the Federal Reserve two-day meeting, which starts today."Read More: <a href="https://www.businessinsider.com/stock-market-crash-new-bull-run-historical-checklist-not-met-2020-6" target="_blank" rel="noopener noreferrer">Stocks have met none of the 8 conditions that confirmed every new bull market in the post-war era — and one investment chief warns a relapse into a bear market is coming</a> The slump in European equities came despite a 15 billion euro ($19 billion) package by France to help prop up its aerospace industry. Airbus, one of the world's two largest planemakers, has its main office in France.Here's the market roundup as of 12.35 p.m. in London (7.35 a.m. ET):<ul><li>European equities fell, with Germany's <a href="https://markets.businessinsider.com/index/dax?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestmp;utm_medium=ingest" target="_blank" rel="noopener">DAX</a> down 1.9% Britain's <a href="https://markets.businessinsider.com/index/ftse_100?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestmp;utm_medium=ingest" target="_blank" rel="noopener">FTSE 100</a> down 1.7% and the <a href="https://markets.businessinsider.com/index/euro_stoxx_50?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestmp;utm_medium=ingest" target="_blank" rel="noopener">Euro Stoxx 50</a> down 1.7%</li><li>Asian indexes were mixed. Hong Kong's <a href="https://markets.businessinsider.com/index/hang_seng?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest" target="_blank" rel="noopener">Hang Seng rose 1.1% </a>, China's<a href="https://markets.businessinsider.com/index/shanghai_composite?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest" target="_blank" rel="noopener"> Shanghai Composite</a> rose 0.6%, and Japan's <a href="https://markets.businessinsider.com/index/nikkei_225?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestmp;utm_medium=ingest" target="_blank" rel="noopener">Nikkei </a> fell 0.4%.</li><li>US stocks are set to open lower. Futures underlying the <a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Dow Jones Industrial Average</a> are down 1.1%, the <a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestts&amp;utm_medium=ingest" target="_blank" rel="noopener">S&amp;P 500</a> down 1%, and the <a href="https://markets.businessinsider.com/index/nasdaq_100?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestmp;utm_medium=ingest" target="_blank" rel="noopener">Nasdaq</a> down 0.6%. </li><li><keyword id="6359072" type="UNKNOWN" weightage="60" keywordseo="oil">Oil</keyword> prices fell. <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestmp;utm_medium=ingest" target="_blank" rel="noopener">West Texas Intermediate</a> fell 1.9% at $7.47 a barrel and <a href="https://markets.businessinsider.com/commodities/oil-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestmp;utm_medium=ingest" target="_blank" rel="noopener">Brent</a> fell 1.7% to $40.14 a barrel. </li><li>The benchmark <a href="https://markets.businessinsider.com/rates/u-s--rates-10-years?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestedium=ingest" target="_blank" rel="noopener">10-year Treasury</a> yield fell to 0.82%.</li><li><a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestmp;utm_medium=ingest" target="_blank" rel="noopener">Gold</a> fell 0.6% to $1715 per troy ounce. </li></ul>Wilson added: "European markets still seem a bit unsure whether they should follow the US with another leg higher or show some more restraint given the economic uncertainty – and the fact Europe just doesn't have the same amount of big tech – the S&amp;P 500 technology sector is up 11% YTD, in line with the Nasdaq 100."Read More: <a href="https://slack-redir.net/link?url=https%3A%2F%2Fwww.businessinsider.com%2Fstock-picks-to-buy-11-companies-3-month-outperformance-ms-2020-6?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener noreferrer">MORGAN STANLEY: Buy these 11 stocks right now to reap the strongest possible market-beating returns over the next 3 months</a>Naeem Aslam, chief market analyst at Avatrade, said: "The Dow Jones futures are trading modestly lower as investors take some profit off the table after a massive stock market rally. The rally is very much based on the optimism around the re-opening of the global <keyword id="34412" type="ORGANIZATION" weightage="60" keywordseo="economy">economy</keyword>. More and more countries ease their coronavirus restriction."On Monday, the <a href="https://markets.businessinsider.com/news/stocks/sp-500-erases-ytd-losses-investors-economic-reopening-recovery-coronavirus-2020-6-1029290367">S&amp;P 500 wiped out its year-to-date losses</a> in the final minutes of trading as investors pile bets on a quick economic recovery. The oil market saw profit-taking overnight as Saudi energy minister said on Monday the kingdom, UAE and Kuwait would no longer continue with voluntary additional production cuts of around 1.18 million barrels per day. Halley said: "The extra cuts had been voluntary anyway and were not expected to have continued. But with such a large amount of speculative long position in the market, it sparked some profit-taking selling."

European stocks plunge after the continent reports its biggest ever GDP drop

<ul class="summary-list"><li>US <keyword id="6354971" type="DEFINITION" weightage="60" keywordseo="gross-domestic-product">gross domestic product</keyword> grew at an annualized rate of 6.5% in the second quarter of 2021.</li><li>The jump missed the 8.5% growth estimate but placed <keyword id="35050" type="CITY" weightage="60" keywordseo="gdp">GDP</keyword> above its pre-crisis peak for the first time.</li><li>While output has fully retraced its virus-fueled drop, the labor market remains far from fully healed.</li></ul>US gross domestic product completely erased its pandemic-era decline in the second quarter of 2021 thanks to huge stimulus, vaccination, and swift reopening.But production bottlenecks and supply shortages are keeping the <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword> from growing as fast as expected.The country's <keyword id="819980" type="PERSON" weightage="60" keywordseo="economic-output">economic output</keyword> grew at an annualized rate of 6.5% during the three months that ended in June, the <a href="https://www.bea.gov/data/gdp/gross-domestic-product">Commerce Department said Thursday</a>. Economists surveyed by Bloomberg expected the economy to grow at a rate of 8.5% through the quarter.The reading marks the second-strongest growth rate since 2003, exceeded only by the record-fast expansion seen in the third quarter of 2020. It also follows an annualized growth rate of 6.3% in the first quarter. It also brings <keyword id="293989" type="ORGANIZATION" weightage="60" keywordseo="US-GDP">US GDP</keyword> above the previous peak seen in the fourth quarter of 2019. The achievement signifies that the economy is finally larger than it was just before the crisis began.Bloomberg's liveblog covering the release noted that a big part of the surprisingly slow growth rate came from private inventories, or stock businesses are holding but haven't sold yet, which contributed a 1.13 percentage point drag on the headline growth figure. Economists had expected companies to be building up their stockpiles, rather than depleting them. There was also a modest drag from a decline in federal government spending as the big stimulus spending from the American Rescue Plan begins to fade.Other components of GDP grew at a robust pace. Personal consumption expenditures, by far the largest part of the US economy, grew by a whopping 11.8% annualized rate last quarter. While investment in commercial buildings fell, investment in equipment and intellectual property both rose at rates far higher than their pre-pandemic trends.Still, the gap between average estimates and the actual print will likely disappoint those hoping for a stronger pace of recovery.<h2>Progress still to be made</h2>The reading doesn't mean the entire economy has fully healed. While consumer spending and activity in certain sectors have rebounded, the labor market remains far from a complete recovery. The leisure and hospitality sector, for example, is still down more than 2 million payrolls compared to its pre-COVID peak.The GDP print also represents how much the economy would've expanded had its second-quarter growth rate continued for a full year. And early signs point to growth moderating in the third quarter. For one, the US continued vaccinating its population at a healthy rate through the second quarter, resulting in much of the economy reopening through the period. With many lockdown measures already reversed, the rate of improvement in the current quarter will likely soften.The quarter also benefitted from the $1.9 trillion stimulus package passing in March. The measure included a $300-per-week supplement to unemployment insurance and $1,400 direct payments, both of which helped retail sales surge to record highs in April.The report comes as lawmakers inch forward with a new package set to boost economic growth. A bipartisan $1 trillion infrastructure plan <a href="https://www.businessinsider.com/bidens-bipartisan-infrastructure-deal-advances-in-senate-2021-7">advanced in the Senate on Wednesday</a> after 17 Republicans joined Democrats in backing the measure. The proposal includes funding for roads, bridges, broadband access, and clean water projects.President Joe Biden has pitched the plan as a way to improve economic growth over the long run, instead of a short-term boost like that fueled by Democrats' March stimulus. Such investments promise "<a href="https://www.businessinsider.com/biden-infrastructure-care-plans-janet-yellen-promise-big-return-economy-2021-5">a big return</a>" for economic growth and should be paid for while interest rates sit at historic lows, Treasury Secretary Janet Yellen said in May.

US GDP badly missed growth estimates in the 2nd quarter - but the economy is still bigger than it was before the COVID-19 recession

India's GDP is expected to grow at 7.8 per cent in FY2022-23, said RBI Governor Shaktikanta Das on Thursday. In a statement after the Monetary Policy Committee's bi-monthly meet, Das said the real <keyword id="44910" type="General" weightage="20" keywordseo="gdp-growth" source="Orion">GDP growth</keyword> is projected at 17.2 per cent in Q1FY23, at 7 per cent in Q2; at 4.3 per cent in Q3 and Q4 at 4.5 per cent. "In India, real GDP growth at 9.2 per cent for 2021-22 takes it modestly above the level of GDP in 2019-20. Private consumption, the mainstay of domestic demand, continues to trail its pre-pandemic level," he said. "The persistent increase in international commodity prices, surge in volatility of global financial markets and global supply bottlenecks can exacerbate risks to the outlook." On Thursday, RBI retained its key short-term lending rates during the sixth and final monetary policy review of FY22. Further, the growth-oriented accommodative stance was retained to give a push to economic activity. In addition, the RBI's Monetary Policy Committee (MPC) maintained the repo rate, or short-term lending rate, for commercial banks, at 4 per cent. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/home-loans-will-remain-cheap-for-a-little-longer/articleshow/89473251.cms">Home loans will remain cheap for a little longer</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/nykaa-share-price-slips-as-steep-fall-in-profit-disappoints-investors/articleshow/89469029.cms">Nykaa slips 4% as steep fall in profit disappoints investors</a>

You Searched For "gdp" and got 11 results

Anand Rathi anticipates Q1 FY25 GDP growth at 7%, a little lower than RBI's estimate of 7.1%

ANI

Morgan Stanley raises India's GDP growth forecast to 6.8% for FY25

ANI

India's GDP grows 7.6% in September quarter, beats RBI estimates

BI India Bureau

Goldman Sachs cuts its US GDP forecast for the 3rd month in a row because of the "virus drag" on consumer spending and the global semiconductor crunch

Camomile Shumba

Top 10 countries with the highest GDP in 2024! See where India stands

Kunal Kambli

Moody's raises India's GDP forecast to 6.7% for 2023

IANS

US GDP slumped 4.8% in the first quarter, ending the longest economic expansion on record

Carmen Reinicke

US GDP could slump by as much as 42.8% in the 2nd quarter, Atlanta Fed says

Carmen Reinicke

European stocks plunge after the continent reports its biggest ever GDP drop

Saloni Sardana

US GDP badly missed growth estimates in the 2nd quarter - but the economy is still bigger than it was before the COVID-19 recession

Ben Winck,Andy Kiersz

India's GDP is expected to grow at 7.8% in FY23, says RBI

IANS

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