Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
12,018.40-24.8
Stock Analysis, IPO, Mutual Funds, Bonds & More

Indian, Chinese economies to accelerate in Q4, says report

In the third quarter, India's real GDP growth is estimated to be 1 per cent on a quarter-on-quarter basis and is projected to rise to 2.20 per cent in the fourth quarter, as per the report.

PTI|
Oct 30, 2019, 08.44 PM IST
0Comments
Agencies
Untitled-6
The report noted that buffeted by the US-China trade war, a shrinking workforce and a leveraged banking sector, Chinese economic growth slowed to 1.35 per cent in the second quarter.
NEW DELHI: India and China are projected to see accelerated economic growth in the fourth quarter of this year, bucking trends in the US and the European Union, according to a report. The Economist Intelligence Unit on Wednesday said it expects third-quarter GDP growth to be weak across most of the world's biggest economies.

"Of the G7 and BRICS economies, only India and the UK are expected to post third-quarter results that show an acceleration from the second quarter. In the case of the UK, however, there is limited cause for celebration, as this only represents a recovery from a disastrous second quarter," it said in a release providing excerpts of a report.

In the third quarter, India's real GDP growth is estimated to be 1 per cent on a quarter-on-quarter basis and is projected to rise to 2.20 per cent in the fourth quarter, as per the report.

According to the report, Canada and the US would be the fastest-growing G7 economies in the third quarter, with growth expected to come in at 0.4 per cent.

"Indian and Chinese economies set to accelerate in Q4, bucking trends in the US and EU," the release said.

The report noted that buffeted by the US-China trade war, a shrinking workforce and a leveraged banking sector, Chinese economic growth slowed to 1.35 per cent in the second quarter.

The slowdown should continue into the third quarter but in the fourth quarter and in the first quarter of next year, "we forecast a pick-up in growth to 1.6-1.8 per cent as government stimulus kicks in and policies to boost the labour market and household impact are announced," it added.

Noting that the US economy is showing signs of strain, the report said that consumer sentiment has softened as trade tariffs have become a greater cause for concern.

"We expect the US to continue to slow in the fourth quarter and to post an annual result of 2.2 per cent for 2019 and just 1.6 per cent in 2020," it said. RAM ABM

Also Read

FIS India flouts ATM service conditions of Bank of India

Board Meetings Today: Gillette India, Central Bank of India and Aditya Vision

The politics of floor test in India

India-Bangladesh test series: India look to stay at the top

Board Meetings today: Coal India, Hindalco, India Cements, SJVN and NMDC

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service