Economy Update Q3FY12 GDP growth in line; leaves tough task for in Q4FY12 · ::Emkay PDF link

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Economy Update Q3FY12 GDP growth in line; leaves tough task for in Q4FY12 ·      Q3FY12 real GDP growth at 6.1% yoy came somewhat higher than our optimistic expectation of 6.0% yoy however was lower than the consensus estimates of around 6.3% yoy ·      Activity-wise: Services sector grew 8.9% yoy led by growth in trade (9.2%) and community, social services (7.9%). Growth in agriculture / industry came in at 2.7%/2.6% yoy ·      Expenditure side GDP shows dramatic deceleration in the investment rates, with GFCF declining to 27.6% of GDP (nominal) from 29.8% in Q3FY11 ·      Implied growth of 6.9%  yoy  for Q4FY12, to achieve CSO's advance estimate of 6.9% for FY12, looks difficult to achieve amid deteriorating investment activity

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