India’ s GDP growth at 4.7% struggling: investment, government spending down
NEW DELHI - At 4.7%, India's Q3 (September-December 2019) FY20 GDP print has slowed, compared with an upwardly-revised print of 5.1% (from 4.5% earlier) in the previous quarter.
ANZ Bank says the slowdown was led by a sharp decline in investment, while Government spending also moderated. Private consumption and net exports contributed positively to growth in the quarter.
"High frequency indicators for January continued to remain sluggish, highlighting the ongoing struggle in India's growth," ANZ says.
"The data also suggests that the easing cycle by way of unconventional tools is not over yet. We further expect a rate cut as soon as current inflationary pressures subside."