GDP Growth Recovering After Q2 Slowdown: Jeffries

New Delhi: The improvement in India’s economic growth after the slowdown in the July-September quarter is visible as movement indicators like fuel consumption, vehicles tolled and air traffic have strengthened, Jefferies said in a note on Wednesday.

The Jefferies economy tracker composite indicator shows growth pick-up sustaining in November with the indicator up 6.4 per cent year-on-year, the second fastest growth pace in 13 months.

“The festive season created month-on-month volatility due to Diwali timings,” it said. The combined October-November activity growth at 6.5 per cent is a ‘substantial improvement’ over recent months, with growth fastest in five quarters, the Jeffries report states.