Four of six major economies miss growth estimates including India: NSO

On Wednesday, the data released by the National Statistics Office showed that the Indian economy grew 13.5 per cent in the April-June quarter.

Although the economy recorded double-digit growth, the actual numbers fell short of the Reuters Poll estimate of a 15.2 per cent uptick.

The results were even lower than the 14.5 per cent estimate given by the RBI’s Survey of Professional Forecasters on Macroeconomic Indicators in  August.

However, India is not the only economy to have performed below expectations.

Forecasters at a Reuters poll had expected the US economy to grow 0.5 per cent in the April-June quarter; instead, it declined by 0.6 per cent.

China grew at 0.4 per cent in the April-June quarter against a median estimate of 1 per cent growth. Germany and the UK were the only economies to buck the trend.