GDP
No change in repo rate, GDP projected at 6.5% for FY24
The MPC decided to keep the repo rate -- the rate at which RBI lends to the banks -- at 6.5 per cent taking into account the macroeconomic conditions. In the same vein, the RBI Governor added the war against inflation to continue till the decline in inflation rate is closer to the target -- 4 per cent.
German economy to grow 0.3% in 2023: Leading institutes
Supply-side disruptions that had weighed on Europe's largest economy were easing, according to the RWI --Leibniz Institute for Economic Research, the Halle Institute for Economic Research (IWH), the Kiel Institute for the World Economy and the ifo Institute on Wednesday. Germany's manufacturing sector is expected to support economic activity in the coming quarters.
Ukraine's GDP falls 29.2% in 2022
The economic decrease reflected depressed household consumption, a decline in investment activity, and negative pressure on export and import operations caused by the Russia-Ukraine war, the government-run Ukrinform news agency reported on Tuesday. Ukraine's GDP performance last year was better than the initially estimated.
India's GDP growth at 7% in FY23: Acuite Ratings
In a report, Acuite said it is maintaining India's GDP growth at 7 per cent for FY23 and 6 per cent for FY4. The credit rating agency said India's industrial activity rose to 5.2 per cent year-on-year (YoY) in January 23 from 4.7 per cent in December 22, marginally beating market consensus. Sequential momentum in the index of.
Urban discretionary spending slows down even as rural demand weakens
Manufacturing sector contracted for a second straight quarter as demand for manufacturing exports decelerated given the global slowdown. Real GDP growth in FY24 will be in the range of 5.5-6 per cent (vs 7 per cent in FY23), with downside risks, given: (1) urban discretionary demand continues to decelerate along with weak rural demand, (2) private investment remains in the slow lane given rising borrowing costs and sluggish external demand
Before economy regains pre-Covid trend line, slowdown may be setting in
On a 5 year CAGR trend basis, real GDP is growing at 4 per cent, which is sluggish. The weakness is pronounced in manufacturing (2.7 per cent), whereas services (5 per cent) seems to be doing relatively well. Nominal GDP growth stands at 11 per cent on a trend basis, (similar to pre-Covid trend), aided by higher prices.
Major central banks will continue to tighten policies in first half of 2022
Sara Johnson, Executive Director, Economic Research, S&P Global Market Intelligence said: "The global economic outlook has brightened, with the major economies showing resilience in early 2023. However, persistent core inflation will lead to further monetary tightening, restraining growth. With supply conditions improving, progress in reducing inflation will continue.
Moderation in India's trade deficit could be transitory: Acuite Ratings
Acuite Ratings in a report maintaining the trade deficit at $106 billion or 3.1 per cent of gross domestic product (GDP) for FY23 added that there could be cushion in the form of: increased dependence on Russia for oil imports and re-exports, improvement in IT/ITeS service exports and slowing of domestic demand due to monetary policy measures.
Japan's GDP growth slows to 1.1 pct in 2022
According to preliminary data released by the Cabinet Office, Japan's real gross domestic product for the year 2022 came to about 546 trillion yen ($4.1 trillion dollars). For the full year, private demand was up 2.4 per cent from the previous year as household consumption grew 2.2 per cent. Corporate capital investment also increased 1.8 per cent, the data showed.
Eurozone posts 0.1% GDP growth in Q4 2022: Eurostat
Compared with the same quarter of the previous year, the eurozone's GDP is expected to have grown by 1.9 per cent in the fourth quarter of 2022, and it was up 1.8 per cent in the EU. in 2022 the eurozone's GDP increased by 3.5 per cent and that of the EU by 3.6 per cent
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