India’s Q3 GDP growth likely at 6.2%-6.3%, SBI says
State Bank of India (SBI). The bank has projected the country’s GDP growth at 6.2%-6.3% for the October-December quarter (Q3 FY25) based on its in-house ‘Nowcasting Model’, which tracks 36 high-frequency indicators.
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«Impinging upon our in-house developed ‘Nowcasting Model’ that leverages 36 high-frequency indicators, we estimate the GDP growth for Q3 FY25 should come around 6.2%-6.3% (data due on 28th February)… Presuming no major revisions announced in the erstwhile Q1 and Q2 figures by NSO, we estimate the FY25 full-year GDP at 6.3%,» SBI said in the report.
The government is set to release the official GDP data for the third quarter on February 28, 2025. If there are no significant revisions in the earlier estimates for Q1 and Q2, the full-year GDP growth for FY25 is expected to be 6.3%, SBI stated.
The report highlighted that the percentage of indicators showing acceleration has increased to 74% in Q3 FY25, up from 71% in Q2 FY25. SBI attributed this positive momentum to a healthy rural economy, which has been reinforcing stability across other sectors. It pointed to consistent rural wage growth, along with strong domestic tractor sales and higher rabi crop sowing, as factors supporting economic activity.
These projections come just ahead of the government’s official GDP data for Q3. In the same quarter last year, India’s economy had expanded
