India’s Economic Recovery Weakens Substantially In February: Motilal Oswal
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Motilal Oswal Report
Our in-house Economic Activity Index for India’s real gross value added (called EAI-GVA) posted a growth of just 0.5% YoY in February 2021, the weakest in the past six months as against up 4% in January 2021.
The slower growth was largely driven by the non-farm sector, with Industrial activity posting its first fall in six months and the services sector growing just 0.5% in February 2021.
The agricultural sector grew 5.1% YoY in February 2021, the slowest in four months, but reasonably decent.
EAI-gross domestic product declined 7.8% YoY in February 2021, the fastest pace in four months versus a contraction of 5% YoY in January 2021.
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