Monday, June 1, 2009

[Investors Please Listen] Research Views


Economy - Q4 FY09 GDP better than expected

The gross domestic product (GDP) for Q4FY09 grew at better than expected 5.8% yoy. The growth was better than 5.2% expected. The finger prints of the stimulus package were seen across the sectors as the growth was largely driven by 21.5% yoy growth in the government expenditure.

On demand basis, the better than expected performance was driven by pick up in activity in agriculture, construction and services. The agriculture grew by 2.7%yoy during the quarter as against negative 0.8% growth in preceding quarter. The effect of the stimulus package announced by the government and pick up in infrastructure and real estate was visible in a better 6.8% growth in construction. The services sector also showed improvement over Q3FY09 as all the three categories showed better than third quarter numbers. The social services sector grew by strongest 12.5% driven by sixth pay commission recommendation.


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