Angel Broking - 2QFY2013 GDP Growth
Rajesh Desai
Dear All,
Forwarding you the GDP Data Analysis for 2QFY2013.
Real GDP growth at 5.3% for 2QFY2013
Real GDP growth for 2QFY2013 came in line with expectations at 5.3% yoy, decelerating from 5.5% yoy growth in 1QFY2013 and 6.7% yoy growth in the corresponding quarter of the previous year. Growth for 2QFY2013 has been largely driven by the healthy growth in the services sector (weightage: 60%).
The economy has witnessed a significant decline in its growth trajectory as compared to the preceding quarters. However we believe that growth has likely bottomed out for the fiscal year. We expect industrial growth to stabilize at a lower level for this fiscal year since manufacturing growth is unlikely to witness a significant turn-around owing partly to a high base effect for 2HFY2013. We expect the economy to grow at 5.7% for FY2013.
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With best regards,
Fundamental Advisory Desk
Angel Broking
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CA. Rajesh Desai