India Q2 GDP data LIVE Updates: Here's what to expect from macro-economic data to be out today

livemint.com:

India Q2 GDP data LIVE Updates: The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation is set to release the Gross Domestic Product (GDP) data, for second quarter spanning July to September months of the financial year 2023-24, today. Economists expect growth rate to slow down in Q2 of this financial year as compared to last quarter where it registered robust growth of 7.8 percent.

However, India is expected to retain its status of the fastest growing economy in the world.The Reserve Bank of India (RBI) prediction data estimates GDP growth to be 6.5 percent for Q2. According to a Reuters survey, India's growth is expected to be around 6.8 per cent in the July-September quarter compared to the same period last year.Real GDP growth of 7.8 percent in the last quarter was at a four-quarter high while nominal GDP growth was the lowest in nine quarters of 8 percent in the last quarter.The agricultural sector could witness a sharp decline in growth during this quarter as gross value added (GVA) with growth to be around 1-1.5 percent only.

This could be attribute to adverse weather conditions involving heavy rainfall across the country that affected productivity of farmers.Manufacturing sector GVA is expected to have risen as suggested by Index of Industrial Production averaging data. This data recorded 6.3 percent growth between July-September months that is a reported increase from 5.1 percent in the previous quarter.Private final consumption expenditure had increased to a three-quarter high of 6.0 percent in the previous quarter and urban demand is further expected to drive growth this quarter as well however there are indicators of weak rural demand during this period.Net exports'