Indian Government Report 5% GDP Growth But Slowdown is Probably Worse
India’s Gross domestic product rose by 5 percent in the first quarter of 2019-20 compared to 5.8 percent in the previous quarter, according to the Central Statistics Office. In gross value added terms, the economy grew at 4.9 percent in the April-June period, compared to 5.7 percent last quarter. It is the first time since 2013 when India has had two quarters with less than 6% GDP growth.
The NY Times reports that early economic indicator statistics used by Alan Greenspan look terrible. Greenspan would often look at sales of men’s underwear as a guide to where an economy was headed. India’s mend’s underwear sales are down 50 percent. Cars sales are down 32 percent.
SOURCES- Bloomberg Quint, NY Times
Written By Brian Wang, Nextbigfuture.com
Brian Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of nextbigfuture.com, the top online science blog. He is also involved in angel investing and raising funds for breakthrough technology startup companies.
He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.