Mexican Media Brands
India Cuts GDP Outlook for Second Time in Two Weeks
India has reduced its estimate for domestic economic growth in the fiscal year ending March 31 to 5%, the slowest pace in a decade.
#economics
Share
India has reduced its estimate for domestic economic growth in the fiscal year ending March 31 to 5%, the slowest pace in a decade.
Last week the country's statistical office lowered its forecast for expansion to 5.5% from 5.8%.
Economists note that the country's slowdown is bad news for foreign companies that have been counting on growing demand in India to offset deteriorating markets elsewhere.
Waning consumer confidence and steep gasoline prices reversed early gains in auto sales last year. Demand dropped in four of the last five months of 2012, including a 13% decline in December.
RELATED CONTENT
-
Global Car Market to Shrink for 2-3 Years
Global sales of light vehicles will decline year on year through at least 2021, predicts LMC Automotive at its annual outlook conference outside Detroit, Mich.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
GM, Ford Evaluate Possible Economic Slump
General Motors and Ford say they have bolstered their cash reserves in case the trade war between the U.S. and China triggers a global recession.