Q2FY15 GDP growth rate likely to ease to 5%: Poll

The Q2FY15 GDP data, expected Friday evening, could be the next big trigger for the market. A CNBC-TV18 poll expects the pace of growth to slide to 5 percent from 5.7 percent, the 10-quarter high it hit in the first quarter.

According to the poll, the slowdown will be led by industries -- expected to grow by 1.3 percent as against 4 percent Q-o-Q -- on slower manufacturing.

Experts feel that there have been signs of sluggishness. The Index of Industrial Production (IIP) for the second quarter stood at 1.1 percent against 4.2 percent, while the Q2 manufacturing growth declined to 0.1 percent against 3.9 percent on a quarter-on-quarter basis. Even the agriculture growth is expected to slow down to 1.7 percent against 3.8 percent (Q-o-Q), due to weak South-West monsoon.

The poll sees a flat growth in services, at 6.7 percent versus 6.6 percent (Q-o-Q), and expects community and social services to slow down due to slow government spending.