India's growth momentum likely slowed in late 2018 | The Daily Star
12:00 AM, February 27, 2019 / LAST MODIFIED: 12:00 AM, February 27, 2019

India's growth momentum likely slowed in late 2018

India's economy likely grew at its slowest pace in over a year in the October-Decem-ber quarter as weaker rural incomes and softer urban de-mand weighed on consumption, a Reuters poll showed.

The median forecast from more than 55 economists polled on Feb. 19-25 was for growth of 6.9 percent, compared with 7.1 percent in July-September.

“Consumption drivers should remain modest as tight liquidity persisted through most of the quarter and farm distress restrained rural consumption,” said Charu Chanana, emerging Asia economist at Continuum Economics.

Forecasts for the GDP number, due for release on Feb. 28 at 1200 GMT, ranged between 6.3 percent and 7.9 percent, and suggested a significant drop from a more than two-year high of 8.2 percent in April-June 2018.

The latest poll was conducted amid political uncertainty ahead of a general election due by May and a weakening global economy.

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