India’s economy to expand 4.7% in September quarter – Reuters poll

Economists surveyed by Reuters said on Friday that the Indian economy is likely to expand at its weakest pace in over six years in the June-September quarter, in the face of a slowdown in the consumer demand and private investment.

The Indian GDP data is due later on Friday at 1200 GMT.

Key Findings:

“The median of a poll of economists showed annual growth in gross domestic product of 4.7% in the quarter, down from 5.0% in the previous three months and 7% for the corresponding period of 2018.

Economic growth could dip to around 4% in the September quarter, two domestic television channels said on Wednesday, citing government sources.

If the latest figure for expansion of gross domestic product is 4.7% or less, the quarter will have registered the slowest expansion in 26 quarters, since 4.3% in January-March 2013.

Economists in a separate Reuters poll predicted the Reserve Bank of India would cut its repo rate for the sixth time in a row, by 25 basis points, to 4.90% at its Dec. 3-5 meeting.”

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