Losing steam: On faltering economic recovery

News Today 03.03.2022

The latest national income estimates for 2021-22 released by the NSO have pared growth hopes from 9.2% to 8.9%, compared to the 6.6% contraction in 2020-21. GDP growth (October- December 2021 quarter) Q3 is pegged at 5.4%, compared to the 0.7% recorded in the same quarter of 2020, when the economy returned to the growth zone after two quarters of sharp contraction. The headline Q3 growth number was expected to moderate from the 20.3% and 8.5% recorded in the first two, but not as much as it has. GVA, projected to rise 8.3% for the full year, compared to the 4.8% contraction in 2020-21, recorded only 4.7% growth in Q3. (Read More)

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