Tuesday, August 31, 2010

Robust GDP growth


The Q1 GDP numbers have shown a robust increase in the quarterly domestic product, with the drivers being Industry and Services. Nevertheless, concerns remain on the sustainability of such growth, amidst concerns over private consumption momentum.

GDP growth for Q1 FY11 over the same period last year stood at 8.8%. The key growth drivers were Mining & Quarrying (8.9%), Manufacturing (12.4%) and Trade, hotels, transport and comm. (12.2%). Growth in agriculture stood at 2.8% in Q1 FY11. Of the services sector, 'Finance, insurance, real estate and business services' saw a drop in growth to 8% from 11.8% the same period last year.

Concerns over private consumption growth

Contributing a major share of GDP, private consumption is an indication of the long term trend and sustainability of growth. The GDP data reveals a slow down in private consumption growth. This reduced momentum is reflected also in the annual figures. Private consumption growth has dropped to 0.34%, the lowest rate of growth in the first quarter since the year 2000.

Private consumption as a % of GDP shows a drop to 58% from 60%, for the same period last year. The figures below bring out the reducing share of private consumption annually and first-quarter-wise.

Industrial Production till date

The Index of Industrial Production (IIP) shows a downward trend, owing to a base effect and reduced momentum in production.

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1 comment:

Top Ten Classifieds said...


Nice and informative post…
Thanks,
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The information contained and provided on this Website provides Investment advice for the education of investors. The posts are an information service only. Recommendations, opinions or suggestions are given with the understanding that readers acting on this information assume all risks involved. We do not assume any responsibility or liability resulting from the use of such information, judgment and opinions for Trading or Investment purposes.
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