India: GDP growth to hold up at 7.7% y/y in Q2 - TDS

Analysts at TD Securities expect India's GDP growth to hold up at 7.7% y/y in Q2, the same pace as in Q1.

Key Quotes

“India’s growth in Q2 will have been impacted by a variety of factors including higher oil prices, higher interest rates and fiscal tightening. However, high frequency indicators have held up well and suggest that the economy has shown resilience to external pressures, and continues to recover post demonetisation and GST implementation.”

“Manufacturing in particular has strengthened, benefiting from renewed inventory building as reflected in strengthening PMIs.”