India: Weak Growth Continues into Start of FY13/14

Hindu Rates of growth stage a come back to haunt the Indian Policy makers!

Consensus Economics blog

Consensus Forecasts

Economic weakness, which was evident throughout FY12/13, looks to have continued going into the start of FY13/14, judging by the recent batch of data releases for the month of April. Ongoing weak economic activity was underscored by a further loss in momentum in industrial output. In y-o-y terms, growth in industry slowed sharply from 3.4% in March to 2.3% in April, reflecting in particular the sharp deceleration in the manufacturing sub-sector. On a further downbeat note, overall industrial production shrank by 1.5% in April compared to the previous month. The contraction was much more pronounced than the -0.1% posted in March. Furthermore, the outlook for the sector appears to be largely gloomy as June’s manufacturing Purchasing Managers’ Index (PMI) suggests that activity was broadly flat amid a decline in new orders. Softness in the sector can also be attributed to power cuts and the general weak economic climate. In the…

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About sahriskmanager

I have worked as a Head of Risk and a risk culture builder at both Asset Management and Commercial Banking Institutions within and outside of Pakistan. Over the years I have developed exhaustive understanding of risks that exist in both Sharia and Conventional Finance related Investments and Financing/Lending Products. I have invaluable experiences to share with respect to setting up and restructuring of Financial Risk Management Departments at Islamic Banks and Asset Management Firms . This includes developing policy and procedure manuals, recruiting of staff, imparting Risk Trainings and preparing the entire SDI (System, Design & Installation) work-flow frameworks for the department itself. What I shall post on these blog pages are my personal experiences, global risk management issues and academic interests which I would like to share with academicians, students and practitioners of FRM - Financial Risk Management all over the world.
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