요약:Investment bank Goldman Sachs anticipates India’s gross domestic product (GDP) to shrink 14.8% this fiscal against its earlier estimate of an 11.8% contraction. Fitch Ratings, meanwhile, cut its growth forecast for India for FY21 to a contraction of 10.5%, more than double the 5% contraction projected in June.
Goldman Sachs and Fitch Ratings on Tuesday forecast deeper-than-previously estimated economic recession for India in FY21 holding that limited fiscal support, fragilities in the financial system and a continued rise in coronavirus cases are hampering a rapid normalisation in economic activity.
Investment bank Goldman Sachs anticipates Indias gross domestic product (GDP) to shrink 14.8% this fiscal against its earlier estimate of an 11.8% contraction. Fitch Ratings, meanwhile, cut its growth forecast for India for FY21 to a contraction of 10.5%, more than double the 5% contraction projected in June.
The latest estimates by Fitch and Goldman Sachs are among the worst for the Indian economy for this fiscal, which may make it the deepest contraction so far in Indias history. The previous lowest was a GDP contraction of 5.2% in FY80.
Indias economy contracted 23.9% in the June quarter in the steepest pace in four decades. It was the worst performance among G20 nations, and significantly below expectations of most economists, as the stringent covid-19-induced national lockdown created a double-whammy through both a supply and demand side shock as businesses shut operations while consumers were forced to stay home.
부인 성명:
본 문서의 견해는 저자의 개인적인 견해를 나타낼 뿐이며 본 플랫폼에 대한 투자 자문을 구성하지 않습니다.본 플랫폼은 기사 정보의 정확성, 완전성 및 적시성을 보장하지 않으며, 기사 정보의 사용 또는 의존으로 인한 손실에 대해서도 책임지지 않습니다.