India's June industrial output contracts 2.2 percent year/year - government

[faithfulguy]

(Reuters) - India's industrial production contracted 2.2 percent in June, more-than-expected from a year earlier, government data showed on Monday.

Analysts polled by Reuters had expected output to shrink 1.2 percent annually. May's output growth was revised down to an annual 2.9 percent contraction from 1.6 percent earlier.

Manufacturing sector, which constitutes about 76 percent of industrial production, shrank 2.2 percent from a year earlier, the federal statistics office said.

Capital goods production, a barometer for investments in the economy, contracted an annual 6.6 percent in June from a year earlier.

India's June industrial output contracts 2.2 percent year/year - government | Reuters

 

[Chinese-Dragon]

Meanwhile in China, industrial output increases by 9.7%:

China industrial output jumps to five-month high | Inquirer Business

Friday, August 9th, 2013

Industrial production, which measures output at factories, workshops and mines, rose 9.7 percent year-on-year, well above analyst expectations of 9.0 percent in a survey by Dow Jones Newswires.

Authorities also announced steady expansion in retail sales and fixed asset investment, and a benign inflation figure of 2.7 percent, unchanged on last month.

Considering the fact that the base industrial output of China is already so high to begin with, 9.7% increase is massive.

 

[cirr]

Pathetic。

India will be lucky to achieve 4.5% GDP growth this FY。

 

[TopCat]

India is in serious trouble. They made mockery of Pakistan for so long. They are getting into the same $hit hole now.

Short term debt of 170 billion dollar is getting matured this year. India is in the verge of default. After Failing to secure enough greenback RBI started reducing the flow of Rupees which will in turn make cash unavailable for people to do any business. Even to maintain a growth rate 4% will be a tough call in this situation.

 

[Chinese-Dragon]

India is in serious trouble. They made mockery of Pakistan for so long. They are getting into the same $hit hole now.

Short term debt of 170 billion dollar is getting matured this year. India is in the verge of default. After Failing to secure enough greenback RBI started reducing the flow of Rupees which will in turn make cash unavailable for people to do any business. Even to maintain a growth rate 4% will be a tough call in this situation.

The IMF forecasts for India are over-optimistic (as usual).

IMF forecasts 4.5% growth for India; to lose second fastest-growing economy tag - Economic Times

NEW DELHI: India looks all set to cede the moniker of the world's second fastest growing major economy for 2012, a fall from glory for a country that was spoken in the same breath as China for much of the previous decade and even nursed ambitions of upstaging its larger neighbour.

The latest global economic growth forecasts from the International Monetary Fund (IMF) have India growing at 4.5% in 2012 (at market prices), much less than the big guns of ASEAN such as Indonesia and the Philippines, and even Bangladesh.

 

[faithfulguy]

The IMF forecasts for India are over-optimistic (as usual).

IMF forecasts 4.5% growth for India; to lose second fastest-growing economy tag - Economic Times

I'm not surprised when no Indians make any comments on this thread. Because you cannot debate facts. These are cold, hard, numbers you present to them.

But you will still see "India will have the fastest growing economy by 2030" etc. You just don't see any more short term claims such as having the fastest growing economy in # years. I guess you can only cry wolf for so long.

 

[cirr]

SBI results confirm India Inc’s bleeding; GDP will hit new low in 2013-14

By R Jagannathan Aug 13, 2013

If the banking sector is a proxy for the Indian economy, the smoke signals coming from the first quarter (Q1) results of banks is telling.

Most banks – especially public sector banks – have reported a sharp reduction in profits and a corresponding rise in bad loans (non-performing assets, or NPAs), making it clear that the economic situation is going from bad to worse.

The country is, therefore, unlikely to report more than 5 percent GDP growth in 2013-14. In fact, it could well hit another decade’s low and fall below 5 percent. If GDP has to grow at 5 percent, banks have to grow at more than 12-15 percent in money terms, and that is unlikely to be the case, thanks to the weight of growing bad loans.

Today’s results of the State Bank of India – which accounts for more than a fifth of the Indian banking sector – confirm that corporate India is bleeding, and banks are beginning to hurt, in turn. SBI’s profits are down 14 percent, thanks to higher provisioning.

Read more at：SBI results, July trade data suggest GDP will hit new low in 2013-14 - Firstpost

 

[cirr]

I'm not surprised when no Indians make any comments on this thread. Because you cannot debate facts. These are cold, hard, numbers you present to them.

But you will still see "India will have the fastest growing economy by 2030" etc. You just don't see any more short term claims such as having the fastest growing economy in # years. I guess you can only cry wolf for so long.

lol，lol！Never ever under-estimate India's determination to talk up the size of its economy！

When everything else fails，Indians can always resort to PPP。

By the way，the PPP figure for China，which was based on the survey of 30 coastal cities，is totally wrong。The UN is conducting a new economic census to rectify the deviations。

World's 10 biggest economies, India at No 3

August 13, 2013 12:32 IST

World's 10 biggest economies, India at No 3 - Rediff.com Business

 

[chhota bheem]

ok whats up ???

 

[Star Wars]

ok whats up ???

the usual.. "India is doomed" posts which has been going on since past few years....

 

[faithfulguy]

the usual.. "India is doomed" posts which has been going on since past few years....

India is not doomed. But it just cannot brag too much any more about it being the number 2 economy and poised to be #1 any time soon.

 

[Pandora]

Indian economy is shrinking for a while now. I guess they reached their max potential.

 

[Pandora]

the usual.. "India is doomed" posts which has been going on since past few years....

Indian economy is shrinking. Next years financial data will be an eye opener for india. India is not doomed in a long shot but reforms are needed.