India Awaits Growth Data Which Reflect Impact of Cash Clampdown
- GDP data due Tuesday is first official assessment of note ban
- While Jan-March GDP seen rebounding from Oct-Dec, risks lurk
What to Expect From India's Economic Numbers
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For a country that saw 86 percent of its currency sucked out overnight, India’s economy is proving surprisingly resilient. At least on paper.
Gross domestic product will expand 6.8 percent in the year through March -- the slowest pace since 2014 but still among the fastest in the world -- according to the median of 32 estimates in a Bloomberg survey of economists before an official forecast due Tuesday. However, analysts and lobby groups say the data mask job losses at small companies, which employ as much as 40 percent of India’s workforce and are the secret to the nation’s growth.