Unexpected Strength: US Economy Surprisingly Robust in the Fourth Quarter
While this growth rate was slower than the 4.9% recorded from July through September, when American consumers made substantial purchases, it surpassed the 1.5% anticipated by economists, as per FactSet estimates.
RBI Article Forecasts Robust Growth for Indian Economy in 2023-24
The piece, authored by a team led by Reserve Bank Deputy Governor Michael Debabrata Patra, underscores the shift in the Indian economy from consumption to investment as a key driver for the stronger-than-expected growth in 2023-24. The government's focus on capex is noted to be playing a pivotal role in encouraging private investment.
7.3% GDP Growth Very Positive, Economic Climate Encouraging: SBI Chairman
The GDP growth forecast of 7.3% surpassed earlier predictions, including the Reserve Bank of India's upward revision from 6.5% to 7%. Khara refrained from discussing the State Bank of India's business outlook due to the institution's current silent period.
December 2023 Shows Strong Growth in the Services Sector
The HSBC India Services Purchasing Managers’ Index, compiled by S&P Global, surged to 59.0, marking a significant increase from November's 12-month low of 56.9.
UN Report Forecasts Global Economic Growth to Decelerate to 2.4% in 2024
While the global economic performance exceeded expectations in 2023, several challenges loom on the horizon.
Indian Economy Poised to Remain a 'Star Performer,' Key Indicators Favor Growth
Over the last month, the macroeconomic scenario has shifted in favor of the equity market, with positive indicators suggesting a promising start for 2024. A correction of 110 basis points in US bond yields is also contributing to the positive market sentiment.
Core Sector Industries Report Strong 7.8% Growth in November
Several sectors contributed to this growth: coal production surged by 10.9%, electricity generation saw a 5.6% rise, and steel production shot up by 9.1% in November compared to the corresponding month last year.