Goldman Sachs cuts U.S. GDP growth forecast for 2022 over Omicron fears

Goldman Sachs on Saturday cut its outlook for U.S. economic growth to 3.8% for 2022, citing risks and uncertainty around the emergence of the Omicron variant of the coronavirus. Goldman economist Joseph Briggs said in a note that the Omicron variant could slow economic reopening, but the firm expects “only a modest drag” on service … Read more

S&P retains India’s 9.5% growth forecast for FY22; consumption, domestic macro indicators weak

S&P Global Ratings on Tuesday said there were indications of a strong rebound in economic activity in India after the second wave of the Covid-19 pandemic waned even as it maintained its FY22 growth forecast for India at 9.5%. It also said that inflation remains relatively high, and public debt worries persist. “In India, domestic … Read more

Moody’s cuts India growth forecast for 2021 to 9.6%

Moody’s Investors Service on Wednesday slashed India’s growth projection to 9.6 per cent for 2021 calendar year, from its earlier estimate of 13.9 per cent, and said faster vaccination progress will be paramount in restricting economic losses to June quarter In its report titled ‘Macroeconomics – India: Economic shocks from second COVID wave will not … Read more

RBI to buy more bonds, leaves rates unchanged

The Reserve Bank of India (RBI) Friday declared its intent to keep borrowing costs low for the government and companies by buying more bonds from the market, leaving key interest rates and the accommodative monetary policy stance unchanged to nurse a fragile economy back to health amid a global price surge in commodities. The growth … Read more

India’s FY22 growth revised down to 10.4% from 11%: SBI Research

India’s growth in the ongoing fiscal was expected at a lower 10.4% compared to 11% earlier on account of the increasing restrictions across states, according to State Bank of India (SBI) Research. Ramping up Covid-19 vaccination efforts rather than lockdowns would be the preferred way to thwart the surging second wave of the pandemic in … Read more

October spike unlikely to trigger upgrade in growth forecasts

ICRA would revisit its projection of a 11% contraction for the fiscal only in December when the National Statistical Office would have released its second quarter estimates, according the agency’s principal economist Aditi Nayar. Synopsis Experts view the recent pick up in the economy as a blip that is likely to subside after riding out … Read more

Growth will turn positive in Q4: Pranjul Bhandari

We cannot rely on consumption but we should set the stage so that investment can come back at least in the next couple of years, says Chief Economist – India, HSBC Securities. Would you reckon that the kind of economic damage that has been caused by the lockdown has been much worse in India as … Read more

Hello India, stagflation is here! Nomura says from RBI survey

NEW DELHI: Stagflation is a double-edged sword and it’s here, at least this is what the RBI’s recent survey on households suggests. Nomura India, however, says it may be transitory. It believes supply-chain disruptions during the pandemic are largely to blame for the outcome. Stagflation occurs when economic output stagnates but inflation keeps rising. It … Read more