MOSL: ECOSCOPE-Economic activity growth at five-year low in 4QFY17-Expect real GDP growth for the quarter to decelerate to ~6%
​ECOSCOPE: Economic activity growth at five-year low in 4QFY17; Expect real GDP growth for the quarter to decelerate to ~6%
- India’s monthly economic activity index (EAI) eased to below 1% YoY in March 2017, marking its lowest growth in the past 15 months. Consequently, EAI grew ~2% YoY in 4QFY17, the slowest in the past five years. For the full-year FY17, EAI grew 5%, similar to the growth witnessed in the past two years.
- Further details show that while investments were broadly unchanged in March, a sharp decline in consumption spending by the central government weakened overall consumption. High growth in imports also dragged EAI.
- Our EAI shares a very good correlation with official GDP (excluding discrepancies). Consistent weakness in EAI points to deceleration in real GDP, which we expect will grow ~6% in 4QFY17 against 7.2% in the first three quarters of FY17.
Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.
Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.