Motilal Oswal: Probability Of Upgrades Rising; Expect Real GDP To Decline Only Approximately 5% In Q2 FY21
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Motilal Oswal Report
Our in-house Economic Activity Index (EAI) for India’s gross value added (called EAI-GVA) posted growth of 2.2% YoY for the first time in seven months in September 2020, following decline of 2.2% YoY in August 2020.
This implies EAI-GVA shrank just 1.7% YoY in Q2 FY21 versus -18% YoY in Q1 FY21.
Industrial activity contracted marginally (by 0.7% YoY), while the services sector grew 3.1% YoY (for the first time in six months) in September 2020.
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