Wikinvest Wire

Indian Economy Update Q3FY09

Indian Economy Update March 2009.

India’s GDP grew 5.3% during Q3FY09.

• GDP growth estimated by the CSO at 5.3% during Q3FY09 as against 8.9% in Q3FY08 came below street expectations.
• The 'agriculture, forestry & fishing' and 'manufacturing' segments witnessed decline of 2.2% and 0.2%, respectively. However, the economic activities in mining, construction and services provided some vibrancy to Q3FY09 numbers.
• With 9MFY09 GDP growth coming at 6.9%, our 4QFY09 growth would need to come at 7.6% to achieve the 7.1% advance estimate by the CSO for FY09. This is less likely in current uncertain macro-economic environment.
• However, our savings as well as Investments as a percentage of GDP are one of the highest in the world. This is likely to insulate us (albeit partly) from deteriorating world economic environment.
Indian Economy Update Q3FY09 Indian Economy Update Q3FY09 Reviewed by admin on 5:53:00 PM Rating: 5
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