Slowdown in remittances could impact consumption demand further: India Ratings
Historically, India has been one of the largest receiver of remittances in the world, however, the share of remittances as a percentage of gross disposable income receded to 2.5% in FY19 from 3.5% in FY10, indicating the moderation started even before the outbreak of COVID-19.
Luxury carmakers bet on ‘affordable’ wheels to drive out of slowdown
As the industry passes through a challenging period, exacerbated by the ...
How to manage your money in the times of slowdown
In times of slowdown, when incomes are under stress and there is a lot of emotional upheava...
India's GDP to contract 7.5% in the current fiscal because of coronavirus: HDFC Bank
The country was facing a situation similar to that in the US, where each state would have its own epidemic curve of a rise, peak and fall in cases, the report released on Friday said. This would prolong economic recovery, it said, projecting -11% growth for the second quarter and a weak 0.7% and 1.5% recovery in the third and fourth quarters of FY21 respectively.
Covid-led economic slowdown no ground to deny proper wages to workers: SC
The top court noted that the statutory rights of workers should not have been done away by the Gujarat government, as the pandemic is not an internal emergency threatening the security of the country.
Households spent lower on vegetables, breads, cereals, pulses in FY19: MoSPI
The private final consumption expenditure (PFCE) on bread, cereals and pulses was Rs 4.43 lakh crore in 2018-19 from Rs 4.74 lakh crore in FY18. This is the second consecutive annual decline in spends on the product category.
Indians cut down on alcohol and cigarettes as pandemic limiting extra expenses
As per the latest Euromonitor International report, this year there will be a steep almost 40% decline in single malt scotch whiskey sales and over 15% for other whiskies. For cigarettes, the dip will be 5% for the economy range, 10% in mid-priced variants and going up to near 17% for premium cigarettes, Euromonitor said.
GDP contraction in Q2 likely to have slowed to 12%, recovery will be patchy, say economists
High Covid-19 cases and localised lockdowns to contain the spread are dampening demand, according to most of the respondents in an ET poll of 10 economists.
S&P predicts India's GDP to contract 9% in FY21
India's GDP will experience a record contraction in FY21 due to the Covid crisis with some 'enduring' damage while a weakening fiscal position will constrain the government’s ability to support the economy.
Centre of Indian Trade Unions expresses concern over change in base year for CPI-IW
The union alleged that the data has been manipulated with a dubious intent. “Manipulation by the government with a dubious intent does not end here,” Sen said. CITU said the linking factor of 2.88 for converting the numbers of 2016 to 2001 series equivalent will suppress the impact of actual price rise.
Rise in unemployment rate weakening India's labour market recovery, says CMIE
According to CMIE, keeping the employment rate from slipping is challenging. “To merely keep the employment rate unchanged, the economy has to generate additional jobs. It needs to run to stay where it is,” CMIE suggested.
India's current account to register temporary surplus of $30 bn in FY21: Report
The crucial number, which is one of the key aspects gauged while determining a country's macroeconomic position, will swing back to a deficit of USD 15 billion in the next financial year, it said.
What slowdown? Amazon seeks to hire 33,000 people
Amazon can afford to grow its workforce: It is one of the few companies that has thrived during the coronavirus outbreak. People have turned to it to order groceries, supplies and other items online, helping the company bring in record revenue and profits between April and June.
Moderna vaccine trial contractors fail to enroll enough minorities, prompting slowdown: Sources
To make up for the shortfall, Moderna slowed enrollment of its late-stage trial and instructed research centers to focus on increasing participation among minority volunteers, the company said.
IEA sees oil market stuck between no major slowdown but stalled recovery
The IEA cut its 2020 oil demand forecast in its monthly report on Aug. 13, warning that reduced air travel would lower global oil demand by 8.1 million barrels per day (bpd).