Watch: Moody's slashes 2018 India growth forecast to 7.3%


Moody’s Investors Service on Wednesday cut India’s 2018 growth forecast to 7.3 per cent from the previous estimate of 7.5 per cent, saying the economy is in cyclical recovery but higher oil prices and tighter financial conditions will weigh on the pace of acceleration. Moody’s, however, maintained its 2019 growth forecast at 7.5 per cent. “The Indian economy is in cyclical recovery led by both investment and consumption. However, higher oil prices and tighter financial conditions will weigh on the pace of acceleration. “We expect GDP growth of about 7.3 per cent in 2018, down from our previous forecast of 7.5 per cent. Our growth expectation for 2019 remains unchanged at 7.5 per cent,” it said in an update of its ‘Global Macro Outlook: 2018-19’. (Text: PTI)





READ SOURCE

READ  Australian shares to slip ahead of RBA policy meet; NZ flat

LEAVE A REPLY

Please enter your comment!
Please enter your name here