Why in news Japanese brokerage Nomura said the growth rate in festive consumption halved to 15% in the current year, down from 32% in 20...
Why in news
Japanese brokerage Nomura said the growth rate in festive consumption halved to 15% in the current year, down from 32% in 2023 and 88% in 2022
Rural and tier-2/3 cities showed steady sales, but urban and industrial demand was weak.
Retail sales grew, but growth in e-commerce and gold sales dropped.
"Anecdotal" evidence shows slowing growth, while "hard data" on retail auto sales is mixed, with passenger vehicles underperforming.
Nomura sees a cyclical slowdown, with the RBI's 7.2% GDP growth forecast looking too optimistic.
It predicts 6.7% growth with risks.
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