GOLDMAN SACHS SLASHES INDIA’S FY22 GDP GROWTH FORECAST TO 9.9%

GOLDMAN SACHS SLASHES INDIA'S FY22 GDP GROWTH FORECAST TO 9.9% VS. 11.1% PRIOR

Analysts at Goldman Sachs, in their latest report, justified the downward revision to India's fiscal year (FY) 2022 GDP forecasts, against the backdrop of the second covid wave.

_Key quotes_

"Cutting Q2 growth further for India as strong Q1 data eclipsed by the second wave."

"Expect 27.6% annual contraction in India Q2 GDP forecast, down from 20.5% earlier."

"Lowers overall FY22 real GDP growth forecast for India to 9.9%, from 11.1% earlier."

 (kedaitrader.com)

Impact : Medium

Sentiment : Bad For Gold

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