Mid-year review - Economic Performance
Some food for thought "Render to Caesar the things that are Caesar's and to God the things that are God's." —Saint Ambrose (Italian saint, 339-397) Word for the day Gritty (adj) Showing courage and determination Mid-year review Yesterday I highlighted how the markets have performed YTD 2019. Let's check how the economy has been doingrecently. Economic performance review 1. Economic growth slows down considerably GDP growth at 5.8% yoy for the quarter ended March 2019 was lowest in 20qtrs. Consequently, GDP growth for FY19 was at 5yr low of 6.8% yoy. The long term growth trajectory now appears flat. No major acceleration is expected in next couple of years at least. (i) Slow down in GDP growth was led by deceleration in investments, manufacturing output and farm sector growth. (ii) Sharp cuts in public non capital expenditure added to growth deceler...