India's economic growth slowed further in the December quarter as pent up demand eased and weakness in the manufacturing sector continued.
Even though a weaker global economy is likely to pull down India's growth to near 6.4% next year, the International Monetary Fund and the World Bank project India to be the fastest-growing major economy in 2023.India's manufacturing sector shrank by 1.1% year-on-year in the third quarter, a second straight contraction reflecting lower profit margins and weaker exports.
"A possibility of additional interest rate hikes coupled with a slowdown in overall demand pose a further downside risk to manufacturing activity."
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/JPY jumps toward 164.00, highest since December on Brexit dealThe GBP/JPY is rising sharply on Monday boosted by a stronger Pound across the board amid the Brexit agreement. The cross rose to 163.98, the highest
Read more »
US: Housing Price Index declines 0.1% in December vs -0.6% expectedUS: Housing Price Index declines 0.1% in December vs -0.6% expected – by eren_fxstreet RealEstate Housing Macroeconomics UnitedStates EconomicIndicator
Read more »
USD/INR Price News: Rupee bears flirt with 83.00 ahead of India GDPUSD/INR seesaws around 82.90 as bulls take a breather following a five-week winning streak during early Monday. In doing so, the Indian Rupee (INR) pa
Read more »
‘A time bomb’: India’s sinking holy town faces grim futureJOSHIMATH, India (AP) — Inside a shrine overlooking snow-capped mountains, Hindu priests heaped spoonfuls of puffed rice and ghee into a crackling fire. They closed their eyes and chanted in Sanskrit, hoping their prayers would somehow turn back time and save their holy — and sinking — town.
Read more »