India's GDP growth came in at 8.4%YoY in Q2 FY22 vs. 20.1% in Q1, broadly in line with our expectations (consensus: 8.0%, QuantEco Research: 8.5%).
Download ReportIndia Q2 FY22 GDP: Past perfect, Future tense?
India’s GDP growth came in at 8.4%YoY in Q2 FY22 vs. 20.1% in Q1, broadly in line with our expectations (consensus: 8.0%, QuantEco Research: 8.5%). Despite the slowdown in annualised print amidst waning of a favourable base, sequentially growth expanded by a strong 10.4%QoQ in Q2 compared to a contraction of 16.9% in Q1. To jog our memory, Q2 FY22 was testimony to a palpable reversal of the second wave of COVID infections, piecemeal but fairly swift easing of lockdown restrictions at the state-level along with vaccinations gaining momentum. In addition, inventory build-up ahead of the festive season along with pick-up in Government spending in the month of Sep-21 appear