In an interview to CNBC-TV18, Gaurav Kapur, senior economist at RBS says that India's GDP growth may be 4.2-4.3 percent range in Q2. He expects the monsoons to provide cushioning for the data in the coming quarter.
The momentum is not going to sharply turn up simply because we know more or less that the PMI numbers did not report any sharp upturn in the momentum in IIP.
International Monetary Fund (IMF) cut China's growth outlook to 7.75 percent due to a weak economy and exports. It added that the nation's priority should be on reducing social financing growth.
Crude oil this week rose to 8-month high to 103.75 on PMI numbers and other economic data that printed higher across the globe (China, US, UK, India and Germany), which showed improvement in economic activity and employment.