Quick Summary
Q2 GDP at - 7.5% buttresses recovery as captured by several high-frequency indicators. Economic impact is primarily due to #COVID19, good news is falling daily cases are due to lower transmission not due to lower testing. To sustain economic recovery, caution must continue - FM FM Says:
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FAQ :
The GDP contracted by 7.5% in the second quarter of 2021.
The economic impact was primarily due to COVID-19.
Yes, several high-frequency indicators, including high PMI indices for manufacturing and services, positive industrial production, and recovery in key industries, suggest a broad-based recovery is underway.
The Finance Minister stated that caution must continue and the sustainability of the recovery critically depends on keeping the pandemic under control.
The corporate sector is back on track in Q2 2020-21 after two quarters of contraction, with operating profits similar to September 2018 levels.
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