Sluggish demand likely weighed on India's GDP growth in Sept quarter: Poll

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Sluggish demand likely weighed on India's GDP growth in Sept quarter: Poll - Business Standard

Quick Summary:

India's economy likely grew at its slowest pace in one-and-a-half years in the three months to end-September.

Passenger vehicle sales recorded their first decline in 10 quarters and sales of two-wheelers experienced a sharp slowdown, while lacklustre quarterly earnings from fast moving consumer goods (FMCG) company Hindustan Unilever showed the country's consumption story was under strain.

Economists downgraded their growth forecast for this fiscal year to 6.8 per cent and for next year to 6.6 per cent, from 6.9 per cent and 6.7 per cent, respectively, in a survey last month.