India's GDP growth, while still in contraction, registered a positive surprise with a shallower contraction of 7.5% YoY in Q2 FY21 vis-Ã -vis broad market expectation of 8-9% contraction.
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Nov 27, 2020
India Q2 FY21 GDP - Arresting the free fall
Looking at the rear-view mirror and entirely expected, Q2 GDP data has pushed India into a technical recession. Nevertheless, there is comfort in the negative print as the headline posted a positive surprise led by expansion in Manufacturing GVA after four consecutive quarters of contraction.