Slowdown In India Showing No Respite

India’s economic growth likely languished at a decade-low of around 4.6 percent in the April-June quarter, gross domestic product (GDP) data are expected to show on Friday, with the deepening slowdown sparing few sectors in Asia’s number three economy.

“Manufacturing is weak, construction and fixed investment are growing very slowly, export‐facing industries are struggling, and even the once‐strong service sector industries have cooled in recent quarters,” economists at Moody’s Analytics wrote in a report on Monday.

“None of this appeared to have turned around in the three months to June, as the instability created by the weak central government continued to weigh on confidence and demand,” they said.
India, which rivaled neighboring China with its near double-digit growth rates just a few years ago, has rapidly lost momentum in recent quarters owing largely to a deceleration in investment growth.

CNBC

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