ICICI Securities: Q2 GDP Growth Surprises On The Upside
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
The growth numbers showed that in the second quarter of FY21 the economy contracted at a much slower pace than expected.
Real gross domestic product contracted 7.5% YoY in Q2 FY21, sharply up from the 23.9% contraction recorded in the preceding quarter.
The contraction in Q2 FY21 was much lower than consensus (street estimate down 8.9%, Reserve Bank of India survey of professional forecasters: down 10%, RBI Nowcasting model: down 8.6%).
Despite better-than-expected performance in Q2, India slipped into ‘technical recession’ i.e. contraction in real GDP in two consecutive quarters.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.