India’s Economic Recovery Loses Sheen In December: Motilal Oswal
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Motilal Oswal Report
Our in-house Economic Activity Index (EAI) for India’s real gross value added (GVA; called EAI-GVA) posted slower growth of 3.9% YoY in December 2020, versus 5.1%/6.3% YoY growth in November 2020/October 2020.
Consequently, EAI-GVA grew 5.1% YoY in Q3 FY21 after two consecutive declines of 17.6% and 2.1% YoY in Q1 FY21 and Q2 FY21, respectively.
Slower growth in Dec-20 was due to moderation in the services and farm sectors, while industrial activity appears to have performed relatively better.
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