GDP to contract 1% in Q3: BofA

GDP to contract 1% in Q3: BofA

The Hindu

Against the majority view of a rebound in the growth numbers for the December quarter, the house economists at the Wall Street brokerage Bank of America Securities on Tuesday pencilled in a 1% contraction in India’s GDP for the third quarter. On an average, economists at almost all the rating agencies and brokerages have forecast a 0.4-0.7% positive growth for the economy that had contracted by a record 23.9% in the first quarter and 7.5% in the second quarter of the current fiscal.
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