Last update:
GDP growth is expected to slow to 6.2-6.9 percent this quarter due to factors such as heavy rains and weak corporate margins.
India’s Q2 GDP data will be available on November 29, 2024 at 4 PM.
India’s latest GDP growth data for the July-September 2024 quarter (Q2 FY25) will be released on Thursday at 4 pm. According to analysts, GDP is expected to slow to 6.2-6.9 percent this quarter due to factors such as heavy rains and weak corporate margins.
During the last June 2024 quarter (Q1 FY25), India’s economy grew by 6.7%. In the same quarter last year (Q2 FY24), the country had recorded an economic growth of 7.6 percent.
In the latest Q2FY25, Bank of Baroda expects GDP growth of 6.9%, while IDFC First Bank puts it at 6.2%. Ratings agencies ICRA and India Ratings said growth is expected to be 6.5 percent and 6.6 percent, respectively. State Bank of India (SBI) expects growth to pace at 6.5 percent and global financial services firm Nomura sees Q2FY25 GDP growth at 6.3 percent.
India’s Q2 GDP growth is expected to be 6.8 percent, according to the Reserve Bank of India’s (RBI) October bulletin. That’s down from its earlier estimate of 7 percent.
India’s GDP growth is estimated to slow to 6.5% in the second quarter of FY25 due to factors such as heavy rains and weak corporate margins. While government spending and kharif sowing have shown positive trends, the industrial sector, particularly mining and power, is expected to slow down,” ICRA said in its note.
However, it added that despite these challenges, the services sector is expected to improve, and the back-end recovery is expected, leading to full-year GDP growth of 7.0 percent.
However, ICRA said risks such as slowdown in personal loan growth and geopolitical uncertainty remain.
“Consumption and demand indicators, agriculture, industry, service and other indicators, which indicated a slowdown in Q2FY25. The percentage of indicators showing acceleration was 69 per cent in Q2 FY25 versus Q2 FY24,” SBI said in its report. 80 per cent in Q1 and 78 per cent in Q1 FY25.”
However, it added that the expected pick-up in Q3 and Q4 growth could still push overall annual GDP growth to around 7 percent in FY25.