Views on India’s Q2 GDP data – JLL

Views on India’s Q2 GDP data – JLL

“The Indian economy has performed quite well during July- September quarter of 2022 by recording real GDP growth of 6.3% Y-o-Y. This is in spite of strong countervailing forces like high inflation and global headwinds playing havoc on economic activities. The construction sector’s real growth in GVA at 6.6% is quite impressive keeping in mind the monsoon impact and high cost of factor inputs. We believe construction sector growth is likely to improve in the quarters to come back with the reduction in inflationary pressure and higher on-ground activities pertaining to infrastructure projects. Additionally, financial, real estate, and professional services real GVA growth stood at 7.2% during Q2 FY 23 which is robust, given the backdrop of global headwinds to growth. Though the growth has been lower as compared to the previous quarter, it is expected to print better numbers in the coming quarters.” – Dr. Samantak Das, Chief Economist, and Head of Research and REIS, India, JLL

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