Perspective on GDP Data By Mr. Nish Bhatt, Millwood Kane International
Below is Perspective on GDP Data by Mr. Nish Bhatt, Founder & CEO, Millwood Kane International
“ The Q4 & FY22 growth rate has been better than most estimates. GDP for FY22 rose 8.7% vs a contraction of 6.6% YoY, this was the highest growth rate in the previous five years. The Jan-March quarter GDP grew by 4.1% vs 2.5% YoY, however, on a QoQ basis, it was a dip. The agriculture output growth slowed down YoY, and manufacturing saw an uptick. Most growth was largely on account of a lower base.
FY22 saw multiple disruptions like Omnicron, geo-political tensions, a spike in crude prices, and elevated input costs. The heatwave in Q1FY23 may prove to be a dampener but a normal monsoon will be positive that may help improve agriculture output. We believe most disruption is behind us, COVID and geo-political-related tensions have subsided. Spike in crude prices and raw materials is the most significant risk to growth going forward.”
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