Data due at 1200 GMT on Wednesday, Nov. 30
BENGALURU, Nov 28 Reuters The Indian economy likely returned to a more normal 6.2 annual growth rate in JulySeptember after doubledigit expansion in the previous quarter, but weaker exports and investment will curb future activity, a Reuters poll showed.
In AprilJune, Asia39;s thirdlargest economy showed explosive growth of 13.5 from a year earlier thanks mainly to the corresponding period in 2021 having been depressed by pandemiccontrol restrictions.
But with the Reserve Bank of India RBI now raising interest rates to tamp inflation running above its target range of 2 to 6 target, the economy is set to slow further.
The 6.2 annual growth forecast for latest quarter in a Nov. 2228 Reuters poll of 43 economists was a tad lower than the RBI39;s 6.3 view. Forecasts ranged between 3.7 and 6.5.
The exceptionally favourable base of the AprilJune 39;22 quarter is behind us, which will result in a normalization of the yearonyear real GDP growth rate from JulySept 39;22 onward and also make it easier to gauge the true underlying economic momentum, said Kaushik Das, India and South Asia chief economist at Deutsche Bank.
Although business surveys indicated weakening economic activity in most major economies, where central banks are responding to soaring inflation with higher interest rates, business sentiment has remained relatively strong in India.
Still, industrial production increased at an annual pace of only 1.5 on average…