Moody’s projects India’s GDP growth to shrink by 3.1% in 2020 on rising geopolitical risks

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Moody’s Investors Service has projected the Indian economy to shrink by 3.1 per cent in 2020 and said clashes with China on the border also suggest rising geopolitical risks in the Asian region where countries are particularly vulnerable to changes in geopolitical dynamics. While it had pegged India’s annual growth at 0.2 per cent in […]

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Fitch Ratings joins S&P and Moody’s in trimming India outlook to `negative’

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Fitch Ratings retained its sovereign rating for India at the lowest investment grade of BBB negative, and trimmed its outlook to ‘negative’ from ‘stable’, citing a sharp Covid-induced deterioration of the country’s growth and fiscal metrics. In a statement, Fitch said: “The coronavirus pandemic has significantly weakened India’s growth outlook for this year and exposed […]

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Reverberations of the first quarter debacles over the pandemic still being felt

Over the first quarter of 2020, COVID-19 has developed from an emerging threat to a transformational reality with potentially long-lasting effects on economic growth. All optimism for commodity markets at the start of the year was quickly extinguished as the coronavirus emerged in Wuhan, China. Prices have been dragged down further by dire market fundamentals […]

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Fitch Ratings makes further cuts to global GDP forecasts, but says global recession bottoming out; India decline seen at 5%

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Fitch Ratings said it was making further cuts to world GDP forecasts in its latest Global Economic Outlook (GEO), but added that the slump in global economic activity was close to reaching its trough. “World GDP is now forecast to fall by 4.6% in 2020 compared to a decline of 3.9% predicted in our late-April […]

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Fitch Ratings forecasts deep global recession in 2020 as coronavirus crisis escalates

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Fitch Ratings said a deep global recession in 2020 was now baseline forecast according to its latest update of its Global Economic Outlook (GEO) forecasts. The speed with which the coronavirus pandemic is evolving has necessitated another round of huge cuts to its GDP forecasts, Fitch added. “We now expect world economic activity to decline […]

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India’s core sector growth contracts 1.5 per cent in November 2019

Showing no signs of improvement, the output of eight core infrastructure industries contracted for the fourth consecutive month in November by 1.5 per cent, according to official data. Since August, the eight core industries are recording negative growth. The output of coal, crude oil, natural gas, steel, and electricity declined by 2.5 per cent, 6 […]

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ADB trims growth forecasts as Asia’s biggest economies slow; India lowered to 5.1%

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The Asian Development Bank (ADB) has trimmed its forecasts for economic growth in developing Asia this year and next year as growth in the People’s Republic of China (PRC) and India is weighed down by both external and domestic factors. In a supplement to its Asian Development Outlook 2019 Update released in September, ADB now expects gross domestic product […]

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India’s real GDP growth in FY20 likely to be below 5%: IHS Market report

India’s real GDP growth in the 2019-20 fiscal is expected to be slightly below 5 per cent as the impact of stimulus measures will take time to filter through to the economy, IHS Markit has said. The latest GDP data for the July-September quarter showed a significant further moderation in the pace of economic growth […]

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