Covid-related restrictions, global supply shortages and higher input costs due to uncertainties triggered by Russia’s invasion of Ukraines further slowed India’s economic growth in the fourth quarter of the 2021-22 fiscal (April-March) with full-year gross domestic product (GDP) growth hitting 8.7% after contracting by 6.6% in the previous financial year, government data showed. The GDP […]
China said its gross domestic product (GDP) expanded 4.8 percent year on year in the first quarter (Q1) of 2022 despite disruptions caused by the resurgence of COVID-19 cases and global uncertainties. The expansion is supported by a strong January-February economic recovery, the National Bureau of Statistics (NBS) said, adding retail sales grew by 6.7 […]
China’s economic growth will slow this year and in 2023, after recovering in 2021, as domestic demand remains lackluster despite continued export strength and increased fiscal support, according to a new report by the Asian Development Bank (ADB). The PRC’s economy is forecast to grow 5.0% in 2022 and 4.8% in 2023, as the labor […]
Ratings agency CRISIL has reiterated its December 2021 forecast of India’s gross domestic product (GDP) growth at 7.8% in fiscal 2023, saying any potential upside due to the early end of a mild third wave of Covid-19 infections will be offset by the ongoing geopolitical strife stemming from Russia’s invasion of Ukraine, which is creating […]
Rising global commodity prices, led by crude, coal and metals, will shave a lot off the current account leading to higher imports and a rise in current account deficit, which is likely to print at 1.3 per cent of the GDP or $ 40 billion, up from 0.9 per cent surplus last fiscal, says a […]
Sri Lanka has sought a $ 500 million credit line from India to pay for its crude oil purchases amid a severe foreign exchange crisis in the island nation. The move came few days after Sri Lanka’s energy minister Udaya Gammanpila warned that the current availability of fuel in the country can be guaranteed only […]
China’s recovery has broadened as economic activity has continued to normalise, the World Bank said, adding that its economic growth is projected to reach 8.5 percent this year before slowing to 5.4 percent in 2022, as low base effects dissipate and the economy returns to trend growth. Improved consumer and business confidence and better labor market […]
The second Covid-19 wave has thrown cold water over the Indian economy that was beginning to warm up after the most severe contraction since Independence, rating agency CRISIL said, adding that it was lowering it’s the country’s economic growth forecast by 150 basis points to 9.5 percent for the current fiscal. “The rash of afflictions […]
The official data released by the government shows that the country’s gross domestic product (GDP) has contracted by 7.3 percent in the financial year 2020-21. In the fourth quarter of FY21, however, a GDP growth of 1.6 percent was recorded. Meanwhile, CEA Krishnamurthy Subramanian said the economic impact of the second Covid-19 wave is not […]
India’s Gross Domestic Product (GDP) for the fourth quarter (January to March) grew by 1.6%, but contracted by 7.3% for the full 2020-21 financial year, government data showed on Monday, after being severely hit by lockdowns triggered by the Covid-19 pandemic that ground all economic activity. The annual contraction was the worst in more than […]
