GDP growth in Q2 may drop to 5.1%: Karvy
New Delhi, Nov 27, 2012, PTI: 22:50 IST
The country's second quarter growth rate is likely to drop to a nearly three and half year low of 5.1 per cent owing to sustained weakness in the industrial sector, reports said.
According to a research report by Karvy Stock Broking, "GDP growth for the second quarter of this fiscal is estimated to drop to nearly three and a half year low of 5.1 per cent.."
This is mainly expected to be driven by sluggish growth in electricity generation and sharp drop in trade sector's growth as compared to last year, it said.
Echoing similar sentiments another domestic brokerage firm Religare said : “We expect Q2 GDP at 5.1 per cent, the lowest since March 2009, largely driven by sustained weakness in the industrial sector where we expect muted growth of 0.4 per cent.”