Japan`s economy grew at a far slower pace in the third quarter than first thought as capital spending fell, but a double-dip recession is seen as unlikely as exports rebound and corporate spending shows signs of bottoming out.
In view of India`s pleasantly
surprising GDP growth for the second quarter, Nomura Financial
Advisory & Securities (India) today revised the country`s
FY`10 GDP growth forecast at 7 percent from 6 percent
The Prime Minister`s economic advisory panel expects the economy to grow by around 6.1 percent in the second quarter, the same as in the preceding three months, due to the impact of a weak monsoon on agriculture.
Private sector lender Axis Bank
on Thursday lowered India`s economic growth projection to 6.2 per
cent for the current fiscal from earlier estimate of 6.4 per
cent, mainly on account of lower farm output.
India`s global trade in services and goods has risen phenomenally in the last five years to constitute over 54 per cent of its gross domestic product, reflecting a greater integration with the world economy.
US stocks logged their best one-day percentage gain in three months on Thursday as investors saw data showing the US economy returned to growth in the third quarter as brightening the outlook for profits.