India’s central statistics office has chosen today to release news of an 18-year high in Indian GDP growth. As if the atmosphere here needed any more buzz! Here’s an excerpt from the Reuters coverage:
“India's economy is expected to grow 9.2 percent in the financial year ending in March, which would be its fastest growth rate in 18 years, driven largely by services and manufacturing, the government said on Wednesday.
In its first official growth estimate for 2006/07, the central statistics office said manufacturing output growth was estimated at 11.3 percent compared with 9.1 percent a year ago.
The economic growth estimate was higher than a Reuters poll of 10 analysts who forecast growth of 8.6 percent and was above the Reserve bank of India's forecast of 8.5-9.0 percent.”
Read the full story here.
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