March 4, 2023
In the three months leading up to December 2022, the Indian economy grew by 4.4% year over year, which was less than the 6.3% increase in the preceding three months and the 4.6% prediction. A increase in borrowing costs hurt private spending, which made up 61.6% of the GDP in Q4 and fell sharply (2.1% vs. 8.8% in Q3). At the same time, government expenditure decreased (-0.8% vs. -4.1%), investment increased at a slower rate (8.3% vs. 9.7%), and both exports (11.3% vs. 12.3%) and imports (10.9% vs. 25.9%) experienced a decline. Stocks, on the other side, made a comeback (0.2% vs -2.3%). On the production side, there was a slowdown in commerce, hotels, transportation, and communication (9.7% vs. 15.6%), finance and real estate (5.8% vs. 7.1%), and manufacturing (-1.1% vs. -3.6%). In comparison, mining output increased again (3.7% vs -0.4%), and faster growth was observed in the agricultural sector (3.7% vs 2.4%), the utility sector (8.2% vs 6%), and the construction sector (8.4% vs 5.8%). For the fiscal year 2022–2023, the increase rate remained at 7%.
Source: Trading Economics
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