Indien BIP Veränderung zum Vorjahr

The Indian economy expanded 8.4% year-on-year in Q4 2023, the strongest growth since Q2 2022, compared to an upwardly revised 8.1% in Q3 and beating forecasts of 6.6%. On the production side, faster increases were recorded for services (6.7% vs 4.5%), and finance and real estate (7% vs 6.2%). Also, the manufacturing sector continued to grow at a double digit pace (11.6% vs 14.4%) and production of utilities (9% vs 10.5%) and construction (9.5% vs 13.5%) remained robust. On the other hand, the farm sector contracted 0.8% (vs +1.6%) amid adverse weather conditions and the El Nino effect. On the expenditure side, private consumption rose at a faster 3.5% (vs 2.4% in Q3) and investment growth remained robust although it slowed (10.6% vs 11.6%). Both exports (3.4% vs 5.3%) and imports (8.3% vs 11.9%) rose at a slower pace and public expenditure contracted 3.2% after soaring 13.8% in Q3. Meanwhile, the estimate for the 2023/2024 fiscal year growth rate was revised higher to 7.6% from 7.3%