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India growth figures baffle economists

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India growth figures baffle economists Empty India growth figures baffle economists

Post by confuzzled dude Mon Feb 09, 2015 9:33 am

The Indian economy grew by 7.5% between October and December compared with the same period a year earlier, official figures say.

But there was confusion regarding the statistics after the way in which the gross domestic product (GDP) figure was calculated was changed.

Economists warned the figures needed to be treated with caution.

Growth for the previous three months was also revised up sharply to 8.2% from an earlier figure of 5.3%.

And India's statistics ministry revised up its forecast for annual economic growth to 7.4% for the year to the end of March.

That compared with a previous forecast of 6.9% using the new formula, and 4.7% before the revised formula was introduced.

The country's new way of calculating GDP has baffled analysts since its release last month.

India said the new formula is closer to international standards. But analysts say the new data does not correlate with other economic indicators, including industrial and factory production.
http://www.bbc.com/news/world-asia-india-31294508

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