India: GDP growth continues struggling – ANZ

GDP growth slowed further in the quarter from the upwardly revised print of 5.1% (from 4.5% earlier) in Q2 FY20. This marks the third consecutive quarter of moderation, economists at ANZ Research brief.

Key quotes

“At 4.7%, India’s Q3 FY20 GDP print slowed, compared with an upwardly revised print of 5.1% (from 4.5% earlier) in the previous quarter.

“The slowdown was led by a sharp decline in investment while government spending moderated. Private consumption and net exports contributed positively to growth in the quarter.”

“Today’s muted growth reaffirms the continuation of unconventional monetary policy. We expect a rate cut once ongoing inflationary pressures subside.”