The Indian economy is likely to have witnessed solid economic growth in the April-June quarter but leading indicators suggest a slowdown in the coming months, says a Nomura report. According to the global financial services major, India’s economic recovery has peaked and growth rates are likely to get constrained in the second half of this year.
“Our proprietary indicators suggest the inflection point for the cyclical recovery may just be around the corner,” Nomura said in a research note.
India’s gross domestic product (GDP) grew at the fastest pace in seven quarters at 7.7 per cent in January-March quarter on robust performance by manufacturing and service sectors as well as good farm output. Read More
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