India’s recession spell comes to an end in Q3 FY2021
After suffering two consecutive quarters of contraction in GDP, India has registered a growth in its output by 0.4 % y/y in Q3 FY2021. This officially marks the end of the recession for the country.
Source: CEIC Data, CEIC, Central Statistics Office
India is slated to become the fastest growing economy in 2021 according to consensus forecasts, which estimates a growth of 9.9% y/y.
The government stimulus and the RBI’s responsive actions have been crucial for this turnaround. India is likely to witness an acceleration in its output for the next quarter and continue the expansionary phase of the economic cycle.
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