India’s GDP grows 7.8 per cent in Q1 FY24, highest in four quarters

[nahtanbob]

Pent up demand? This is after 2 years of high growth (9.3% - 2021-22 and 7.2% - 2022-23) against 5.7% negative growth in 2020-21. How long will this narrative of pent up demand is going to be?

pandemic depressed a lot of growth

 

[Indos]

View attachment 950382

Why Indian statistic biro keep changing their growth rate in 2020 ? I still remember the first number coming up is even minus 9 %, and then revision keeps coming into -8 %, -7 %, and now new number at - 5.8 %

Indonesian statistic biro said in Feb 2021 that Indonesian economic growth in 2020 was minus 2.2 percent and never changed it until now

 

[migflug]

pandemic depressed a lot of growth

It is bit true. For those who are saying otherwise doesn't have the clear picture. The Q1 had the biggest negative growth in 2020, so the growth in Q1 has always been the highest in the two yrs preceding it. While the other quarters has been relatively mild. Currently the GDP difference between 23Q1 and 22Q4 is around 7.5% , but pre-Covid it was 2-3%. So there is still lot of ground to cover!!

Why Indian statistic biro keep changing their growth rate in 2020 ? I still remember the first number coming up is even minus 9 %, and then revision keeps coming into -8 %, -7 %, and now new number at - 5.8 %

Indonesian statistic biro said in Feb 2021 that Indonesian economic growth in 2020 was minus 2.2 percent and never changed it until now

In India, the Central StatisticsOffice (CSO) releases six estimates of annual GDP for any given year, over a period of two years and 10 months.The initial estimates (or projections) are called the Advance Estimates (AE) and Provisional Estimates (PE).Over time, the initial estimates are revised and are released as the First (1st RE), Second (2nd RE) and Third(3rd RE) Revised Estimates.

 

[Indos]

It is bit true. For those who are saying otherwise doesn't have the clear picture. The Q1 had the biggest negative growth in 2020, so the growth in Q1 has always been the highest in the two yrs preceding it. While the other quarters has been relatively mild. Currently the GDP difference between 23Q1 and 22Q4 is around 7.5% , but pre-Covid it was 2-3%. So there is still lot of ground to cover!!


In India, the Central StatisticsOffice (CSO) releases six estimates of annual GDP for any given year, over a period of two years and 10 months.The initial estimates (or projections) are called the Advance Estimates (AE) and Provisional Estimates (PE).Over time, the initial estimates are revised and are released as the First (1st RE), Second (2nd RE) and Third(3rd RE) Revised Estimates.
View attachment 950388

Moodi really get benefit from this high growth number. I believe he will win in next election.

In Indonesia we will elect new set of leaders for our President and VP. Jokowi cannot run again based on our law. Our election will be more interesting to watch.

 

[Skull and Bones]

Why Indian statistic biro keep changing their growth rate in 2020 ? I still remember the first number coming up is even minus 9 %, and then revision keeps coming into -8 %, -7 %, and now new number at - 5.8 %

Indonesian statistic biro said in Feb 2021 that Indonesian economic growth in 2020 was minus 2.2 percent and never changed it until now

Because a large segment of Indian economy comes from agricultural sector which is dependent on monsoon or other weather phenomena, which cannot be predicted beforehand.

 

[Indos]

Because a large segment of Indian economy comes from agricultural sector which is dependent on monsoon or other weather phenomena, which cannot be predicted beforehand.

We are not talking about economic growth projection, but real GDP calculation where the number will come out about one or two months after full fiscal year has been finished. They (Statistic Biro) will calculate real production, real consumtion, real Investment, and export-import data for full year.

The data will be compared as well by money circulation data by Central Bank which is quite easy to be calculated since nowadays people put money on the bank and draw it when they need to buy something and all banks will give the data to Central Bank. More money changing hands, more growth we will get.