The Q1 GDP data at 13.5%, a double-digit growth may optically look high Says Mr. Nish Bhatt, Millwood Kane International
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Perspective on Q1FY23 GDP Data By Mr. Nish Bhatt, Founder & CEO, Millwood Kane International
“The Q1 GDP data at 13.5%, a double-digit growth may optically look high. But it is lower than most estimates. This quarter was not affected at all by the pandemic. The lower than expected data is despite the private consumption.
The contact-oriented services, hotel, and trade provided a boost to the overall data. While it is encouraging to see growth in the agriculture output, the manufacturing segment was a big drag. The growth in the construction segment indicates higher demand for cement, steel, and other allied segments. A good monsoon year may provide a boost to Q2 growth. Going forward - oil prices, geopolitical tensions between Russia-Ukraine, and a slowdown in the West will guide global growth.”
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