Recovery path for several sectors delayed due to second Covid wave: India Ratings
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The agency also expects the impact of the pandemic to spill over in FY23, with moderation in growth given a slowdown in consumption and investment demand outlook and smoothening out of supply chain issues.
Agencies
The agency also expects corporate growth to decline 3%-5% in FY21 compared with its earlier estimate of a decline of 12.2%.
Domestic agency India Ratings and Research expects the overall recovery path to be pushed back for most of the service-oriented sectors to FY22, owing to a major supply-side disruption from the second wave of COVID-19 infections.
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TODAY’S GAME PLAN:
from the trading desk, this is not research
DATA/HEADLINES 8:30ET Weekly Jobless Claims, GDP revision, Durable Goods; 10:00ET Pending Home Sales; 11:10ET Fed’s Quarles speaks; 12:00ET Fed’s Bostic speaks; 1:00ET $62 billion 7-year note auction; 3:00ET Fed’s Williams speaks
Finance ministers and central bankers from the Group of 20 will meet virtually Friday
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