JP Morgan raises 2024 economic forecast for India But it’s only a slight increase. with a warning that India’s economic growth will be affected by the slowdown in global economic growth.
JPMorgan raised its forecast for India’s economic growth for 2024 to 5.5 percent from its previous forecast of 5 percent. After India released the gross domestic product (GDP) figure, which grew 6.1% in the January quarter. ? Mar, which was up from the previous quarter’s 4.5% growth.
DBS Bank senior economist Radika Rao said the Indian economy had started the year on a strong note. After the economy expanded much faster than analysts expected. The Indian economy was supported by an increase in domestic demand for goods and services. including strong export demand
“We expect India’s services exports to continue to be strong and merchandise exports to be better than expected,” JPMorgan said.
However, JP Morgan remains cautious about the outlook for India’s economic growth next year.
The report states that Although the Indian government has announced to stimulate investment expenditures But it will take some time for such spending to spread into the wider private investment cycle.
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2023-06-02 07:08:46
