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India’s gross domestic product data due today is expected to reveal weak results, indicating that the economy is at its slowest pacing in at least two years in March. Dampened expectations were mainly from struggling consumer demand and private investment due to the COVID-19 pandemic.
The economy is expected to advance by 2.1% in the March quarter, way lower than the 4.7% outlook in December. A group of economists placed their economic forecasts between 4.5% and -1.5%, expecting that the fiscal year that started in April will witness the sharpest downturn in four decades.
“Economic activity will face ongoing disruption over the next year as the country transitions to a post-COVID-19 world,” S&P Global Ratings said on Thursday. In addition to this, the rating agency slashed its 2020- 2021 forecast to a 5% contraction rate.
The damage brought by the coronavirus pandemic would become more evident in June as Goldman Sachs predicted a 4.5% downturn from a year earlier.
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
Flipkart Ltd announced on Thursday that it acquired a 100% stake in Walmart India Pvt Ltd that operates local cash-and-carry business. The electronics retail company had also launched its new digital marketplace called Flipkart Wholesale. “With ...
After a record decline seen last quarter, Britain’s economy is expected to grow at its most rapid pace in decades. The recovery is likely as large portions of the economy resumed operations after coronavirus-related lockdowns were lifted. Despite ...
After a steep decline at the start of the year, China’s economy showed vast recovery in the second quarter despite still getting plagued with major economic debacles in weak domestic consumption and investment amid the unrelenting coronavirus ...
On Tuesday, United States Federal Reserve officials warned a "thick fog of uncertainty" on the U.S. economy as it slowly recovers amid the surge in coronavirus cases. The U.S. central bank stated that the pandemic's second wave would cause ...
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