Coronavirus damages India’s growth and fiscal outlook
Fundamental Forex Analysis

India’s Q1 GDP to expand at the weakest pace in eight years due to coronavirus – Reuters poll

According to the latest Reuters poll of 52 economists, India’s economy is seen expanding at its slowest pace since early 2012 in the January-March quarter, in the face of the coronavirus-imposed nation-wide lockdown.

The GDP report is due to be released on May 29 at 1200 GMT.

Key findings

“India’s economy grew at 2.1% in the March quarter from a year ago, its weakest since comparable records began in early 2012, and sharply slower than 4.7% in the prior three months.

Forecasts for gross domestic product (GDP) data ranged between +4.5% and -1.5%, underscoring the widespread uncertainty on the impact of the coronavirus on the economy at that stage.

While only six economists in the poll forecast a contraction during the first quarter, leading indicators for March already released have signalled a significant hit to GDP in January-March.”

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