How debit, credit cards and ATM cash withdrawal are bellwether for GDP

Cards aren’t just for the affluent–most Indians use them. There is little reason not to track their use to predict economic growth. vIt’s always been a struggle for economists and statisticians to forecast India’s gross domestic product (GDP) correctly, and say where the economy is headed before the official numbers come out. If estimating the […]

China’s ‘miracle’ growth coming to an end?

China’s debt is dangerously high — at close to three times its GDP, with the ratio having nearly doubled in recent years, observes T N Ninan. China makes the biggest single-country contribution to global economic growth. As the world’s manufacturing hub, and its leading trading nation, it is the primary contributor to changes in global […]

UK Economy Logs Weak Growth In July

The UK economy logged weak growth in July as the output remained flat in services, and contracted further in construction on supply shortages, data from the Office for National Statistics showed on Friday. Gross domestic product expanded 0.1 percent in July from June, when the economy grew 1 percent. This was also slower than the […]

Eurozone Exits Recession As Estimated In Q2

The euro area economy recovered from a technical recession in the second quarter with the reopening of member-country economies after the coronavirus lockdowns, flash estimate from Eurostat showed on Tuesday. Gross domestic product grew 2 percent sequentially, in contrast to a 0.3 percent drop in the first quarter. The quarter-on-quarter growth rate matched the flash […]

April-June GDP growth to be ‘deceptively high’ at 20%: ICRA

‘GVA seen 9% lower than Q1 FY20; low base masks COVID second wave impact’ India’s GDP is estimated to grow at the “deceptively high” level of 20% for the April-June quarter but would still remain far below the pre-COVID level, ratings agency ICRA said on Wednesday. ICRA said the low base of the last fiscal […]

‘Economic recovery depends a lot on vaccination’

‘Vaccination is very important for an economy to start functioning properly.’ 2020 was a terrible year for the Indian economy with the country shutting down completely for around more than one-and-a-half months. And GDP contracted almost 25% in 2020. Perhaps learning a lesson from the first wave of the pandemic in 2020, during the second […]

Why GDP data is irrelevant to markets

Large investors track high-frequency data that is immediately available today.That data has been bullish, points out Debashis Basu. This is my third piece in a series that explains why the stock market (which should ideally reflect the underlying economy) is so resilient in the face of a global pandemic. The first piece pointed out extraordinary […]

Sharp slowdown in economic activities; e-way bills @ 1-year low

GST mop-up likely to fall in May, June after touching record levels in April and March. Fewer e-way bills have been generated in May so far, with the daily average falling to a one-year low, indicating a sharp slowdown in economic activity owing to the intense second wave of Covid-19. According to the data by […]

Modi’s $5 trn economy is a useless target: Jean Dreze

‘The function of this target is to pander to the super-power ambitions of the Indian elite.’ India might be heading towards a “serious livelihood crisis” as the situation seems to be worse this time for the working class amid the COVID crisis and local restrictions by states already add up to something close to a […]

Hong Kong Economy Grows Most Since 2010

Ending a long and severe long recession, Hong Kong’s economy grew at the fastest pace in more than a decade in the first quarter of 2021, underpinned by robust exports, advance estimate from the Census and Statistics Department showed on Monday. GDP grew 7.8 percent from a year earlier, in contrast to the decrease of […]