India recorded its first ever contraction in quarterly GDP data with the annualized print coming in at -23.9% in Q1 FY21. While subdued pre-existing conditions provided an unfavorable backdrop, the swing came from the implementation of a stringent lockdown, with Agriculture & Allied Activities and Government Consumption, the only bright spots.
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Oct 06, 2020
DATA Flash - India Q1 FY21 GDP: Locked down!
India recorded its first ever contraction in quarterly GDP data with the annualized print coming in at -23.9% in Q1 FY21. While subdued pre-existing conditions provided an unfavorable backdrop, the swing came from the implementation of a stringent lockdown, with Agriculture & Allied Activities and Government Consumption, the only bright spots.