JP Morgan cuts its India gross domestic product growth projection for 2014/15 to 5.1 per cent from 5.3 per cent after weak factory output print.
"IP (industrial production) debacle is the straw that breaks the camel's back," JP Morgan said in its October 10 report.
India's August industrial output rose just 0.4 per cent compared with 2.4
per cent estimated in a Reuters poll.
The Reserve Bank of India projects GDP to grow at around 5.5 per cent in the current fiscal year ending March 2015.
A slower growth and a fall in oil and commodity prices increase the chance for the RBI to attain its challenging 6 per cent consumer price inflation target by January 2016, JP Morgan said.
Source:
© Copyright 2024 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
JP Morgan cuts its India gross domestic product growth projection for 2014/15 to 5.1 per cent from 5.3 per cent after weak factory output print.