India’s economic outlook appears bleak amid COVID-19 crisis – Reuters poll
|Indian economic outlook remains dour, as the impact of the COVID-19 outbreak is expected to deepen the job crisis, according to the latest Reuters poll of 29 economists.
Key takeaways
“The May 20-27 poll showed the outlook for the current quarter was lowered to 21.6% annually, and to 9.8% on average for this fiscal year, down from 23.0% and 10.4% respectively a month ago.“
“The economy was then forecast to grow 6.7% next fiscal year, compared to 6.5% predicted previously.”
“While the consensus pointed to healthy growth figures later this year, all 29 economists, in response to an additional question, warned the outlook was either "weak and prone to further downgrades" or "fragile, with a limited downside."
“When asked if there was a risk that India's unemployment situation could worsen over the coming year, more than 85%, or 25 of 29 respondents, said it was high, including four who said very high. The remaining four said the risk was low.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.