News for '-brian-coulton'

Fitch retains India's FY24 growth forecast at 6.3%, flags inflation risks

Fitch Ratings on Thursday retained India's growth forecast for the current fiscal at 6.3 per cent citing economic resilience despite tighter monetary policy and exports weakness, but upped year-end inflation projection on El Nino threat. The Indian economy grew 7.8 per cent in the April-June quarter of current fiscal on strong services sector activity and robust demand. "The Indian economy continues to show resilience despite tighter monetary policy and weakness in exports, with growth outpacing other countries in the region," Fitch said, while projecting 6.3 per cent growth for current fiscal (April-March), and 6.5 per cent for next fiscal.

Fitch slashes India's FY23 GDP growth forecast to 7%

Fitch Ratings on Thursday slashed India's GDP growth projection for FY23 to 7 per cent, saying the economy is expected to slow against the backdrop of global economy, elevated inflation and high interest rate. In June, it had forecast 7.8 per cent growth for India. "We expect the economy to slow given the global economic backdrop, elevated inflation and tighter monetary policy. "We now expect the economy to grow 7 per cent in the financial year to end-March 2023 (FY23) from 7.8 per cent previously, with FY24 also slowing to 6.7 per cent from 7.4 per cent before," Fitch said in its September edition of the Global Economic Outlook.

Fitch retains India growth forecast at 7% for FY23, cuts projections for next 2 yrs

Fitch Ratings on Tuesday retained India's economic growth forecast at 7 per cent for the current fiscal, but cut projections for the next two financial years saying the country is not impervious to global developments. In its December edition of the Global Economic Outlook, Fitch projected India's GDP to grow at 7 per cent in the current fiscal, at a slower rate of 6.2 per cent in 2023-24 and at 6.9 per cent in 2024-25. In September, Fitch projected 7 per cent growth for the current fiscal, followed by 6.7 per cent in 2023-24 and 7.1 per cent growth in 2024-25.

India's rating hinges on ties with Pak: Fitch

High deficit hurting India rating: Fitch

International rating agency Fitch said on Tuesday the change in India's sovereign rating is constrained by the high level of fiscal deficit and its review will be done after the budget for 2005-06 has been presented.

Fitch revises India GDP forecast to - 9.4%

Fitch Ratings has revised India's GDP forecast to minus 9.4 per cent in the current fiscal year from a previously projected contraction of 10.5 per cent after the economy staged a sharper rebound in the second quarter. In its Global Economic Outlook, Fitch said the coronavirus-induced recession inflicted severe economic scarring and the country needs to repair balance sheets and increase caution about long-term planning. "We now expect GDP to contract 9.4 per cent in the fiscal year to end March 2021 (plus 1.1 percentage point) followed by plus 11 per cent growth (unchanged) and plus 6.3 per cent growth in the following years," the rating agency said.

US adds 4.8 million jobs as unemployment falls to 11.1%

But, the Wall Street Journal said that the US labour market is operating with millions fewer jobs than in February, the month before the coronavirus pandemic struck the country's economy.

Fitch ups India's growth forecast to 7.8%

The upward revision in growth forecast for current fiscal comes in the backdrop of GDP expanding 8.2 per cent in April-June quarter, higher than Fitch's expectation of 7.7 per cent.