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GDP contracts 7.5% in Q2: Here's what brokerages have to say

Updated : December 01, 2020 08:56 AM IST

India's economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 percent. The GDP had contracted by a record 23.9 percent in the June quarter of FY21 as the coronavirus lockdown pummelled economic activity. Here's what brokerages have to say:

 Kotak:  As per the brokerage, GDP contracted at a slower pace led by easing of lockdown restrictions. It further revised the FY21 GDP forecast to -8.6 percent from -11.5 percent after Q2 contraction came in lower than expectations.
Kotak: As per the brokerage, GDP contracted at a slower pace led by easing of lockdown restrictions. It further revised the FY21 GDP forecast to -8.6 percent from -11.5 percent after Q2 contraction came in lower than expectations.
 Morgan Stanley:  GDP contracted marginally more than expected in Q2, said the brokerage, adding that it expects a cyclical recovery. It sees the Indian economy registering growth in Q3 versus the consensus expectation of a contraction.
Morgan Stanley: GDP contracted marginally more than expected in Q2, said the brokerage, adding that it expects a cyclical recovery. It sees the Indian economy registering growth in Q3 versus the consensus expectation of a contraction.
 Nomura : GDP rose by an impressive 21 percent QoQ almost reversing a -24.3 percent fall in Q1, said the brokerage. It added that the rebound was led by fixed investment, Agri and industrial GVA growth.
Nomura: GDP rose by an impressive 21 percent QoQ almost reversing a -24.3 percent fall in Q1, said the brokerage. It added that the rebound was led by fixed investment, Agri and industrial GVA growth.
Published : December 01, 2020 08:56 AM IST
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