The Gross Domestic Product (GDP) growth is estimated to slow down to 7.1 percent in the current fiscal, from 7.6 percent in 2015-16, mostly due to slump in manufacturing, mining and construction sectors, the government data indicated on Friday without factoring in volatile post-demonetisation figures. On the other outlook, the US job growth slows, but wages rebound.
US employment increased less than expectation in December but a recover in wages indicated to sustained labor market strength that sets up the economy for stronger growth and further interest rate hikes from the Fed Reserve this year.
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