Growth pangs
The National Statistical Office (NSO) recently released national income estimates for 3QFY22 and advance estimates for the entire year FY22. The key highlights of the GDP data are as follows: 3QFY22 – Overall deceleration in growth · GDP grew 5.4% yoy, despite a favorable base (3QFY21 growth was 1%). · Private consumption witnessed decent growth of 7% in 3QFY22. But the public consumption expenditure growth was poor at 3.4% (3QFY21 at 9.3%). · Capital expenditure growth was weak at 2% (2QFY22 was 15%). · Industrial growth weakened to 0.2% vs. 7% in 3QFY21, mainly due to weak growth in manufacturing and electricity generation. · Agriculture and allied sectors growth was also weak at 2.6% · ...