View: The one direction for the economy to move is up — provided government does its bit

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By Mythili Bhusnurmath Whichever way you look at it, GDP data for the first quarter (April-June 2020) of the current fiscal is unambiguously bad. Barring agriculture, which grew 3.4%, every other sector contracted. Construction halved, trade was almost as bad at –47%, manufacturing declined 39.3% and, in the unkindest cut of all, public administration (a … Read more

Economic contraction likely to continue in Q2: RBI

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MUMBAI: The Reserve Bank of India on Tuesday said the contraction in economic activity was likely to continue in the second quarter of the current fiscal as upticks witnessed in May and June appears to have lost strength ifollowing re-imposition of lockdowns to contain the coronavirus pandemic. The government imposed a nation-wide lockdown on March … Read more

UK to officially enter recession; data set to reveal depths of coronavirus-fueled GDP contraction

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London: Britain will on Wednesday officially enter recession, with data set to show a collapse of around 20 percent of gross domestic product in the second quarter — the worst contraction in Europe. The Office for National Statistics (ONS), which is due to unveil the latest assessment at 0600 GMT, is uniformly expected to confirm … Read more