News > India's Economy Seen Slowing Rapidly in March Quarter, Worse to Come

India's Economy Seen Slowing Rapidly in March Quarter, Worse to Come

The median forecast from a Reuters poll of economists put annual economic growth at 2.1% in the March quarter, lower than 4.7% in the December quarter. The full impact of the lockdown on manufacturing and services will become more apparent in the June quarter, with Goldman Sachs predicting a 45% contraction from a year ago. "Economic activity will face ongoing disruption over the next year as the country transitions to a post-COVID-19 world," the rating agency S&P said on Thursday, cutting its 2020/21 forecast to a 5% contraction.