Beneath India’s already impressive third quarter 7.9% year over year GDP growth, is an even sharper rebound.
WSJ: The government didn’t release quarter-on-quarter figures, but according to HSBC calculations, GDP grew at a sizzling 13.9% annualized pace from the previous quarter, likely the fastest since the government started releasing GDP data every three months in 1996.
Officials from the Reserve Bank of India and the Planning Commission, the country’s top policy think tank, said they were likely to revise upward their economic growth forecasts in response to the figures, suggesting the economy’s strong performance caught the authorities off guard.
Times Online: The GDP figures were the strongest since the first quarter of 2008, when the Indian economy grew by 8.6 per cent, and heightened expectations that the central bank will lift interest rates, possibly as early as January.
Hopefully they have the discipline to make the rate hike.
For some perspective, note how India’s economy doubled in size during just the last five years: