Finance & Economy | News & Insights

GDP Growth Surprises on the Upside at 7.6% in Q2 FY24

Published: December 1, 2023
Author: TEXTILE VALUE CHAIN

Highlights:

  • GDP grew at a higher-than-expected rate of 7.6% in Q2 FY24.
  • The growth was propelled by acceleration in investments and higher government consumption.
  • Private consumption disappointed due to weak rural demand.
  • Manufacturing and construction sectors were the main driver of growth.
  • Agriculture sector growth was impacted due to weak monsoon and erratic rainfall.
  • Some moderation in growth is expected in H2 FY24.
  • However, overall for FY24, GDP growth will remain on a firm footing.

GDP_Update_-_Q2_FY24

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