SBI expects Q1 GDP growth at 7.7%
Thursday - August 23, 2018 12:20 am ,
Category : BUSINESS
SBI expects Q1 GDP growth at 7.7%
New Delhi Aug 23 (IANS) Lending major State Bank of India (SBI) on Wednesday said that its Composite Leading Indicator (CLI) has hinted a GDP growth of 7.7 per cent during the first quarter of 2018-19.
The bank has developed -- SBI CLI -- to detect early signals of turning-points in economic activity by taking the basket of 18 leading indicators.
"The CLI is signalling that the economic activity for Q1FY19 has picked up substantially and the GVA growth would be 7.6 per cent " an SBI Ecowrap report said.
"However the headline GVA is being possibly pulled down by a weak agri growth. Major indicators that we found are driving GVA in Q1 FY19 are cement production passenger traffic sale of both commercial vehicle and passenger vehicle non-food credit growth and aircraft movement among others " the report said.
--IANS rv/prs
The bank has developed -- SBI CLI -- to detect early signals of turning-points in economic activity by taking the basket of 18 leading indicators.
"The CLI is signalling that the economic activity for Q1FY19 has picked up substantially and the GVA growth would be 7.6 per cent " an SBI Ecowrap report said.
"However the headline GVA is being possibly pulled down by a weak agri growth. Major indicators that we found are driving GVA in Q1 FY19 are cement production passenger traffic sale of both commercial vehicle and passenger vehicle non-food credit growth and aircraft movement among others " the report said.
--IANS rv/prs
