INDIA MAY HAVE ENTERED ‘QUASI-RECESSION’ AS GDP GROWTH PLUMMETS

 India’s longest growth slump since 2012 is heightening concern that it may be tough for policy makers to reverse the slowdown. “Growth has now slipped below the long term trend of 6.6% for two consecutive quarters, which implies that India is effectively in a quasi-recession,” Teresa John, an economist at Nirmal Bang Equities Pvt. in Mumbai, said in a report published Tuesday. Early indicators suggest “growth remains elusive,” she added. While the standard macroeconomic definition of a recession is two consecutive quarters of shrinking GDP, a significant decline in economic activity spread across months is another often-used description. In India, which offers only year-on-year calculations of output, automobile sales have plunged the most in two decades and the chairman of Hindustan Unilever Ltd. warned that the consumer goods his company makes are “recession-resistant, but not recession-proof.”
https://economictimes.indiatimes.com/news/economy/indicators/india-may-have-entered-quasi-recession-as-gdp-growth-plummets/articleshow/70959236.cms

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