CEIC's GDP Nowcast for India estimates Q3 2021 to grow at 17.2% y/y as of October 25, 2021

CEIC's GDP Nowcast for the current quarter (% y/y) in India stood at 17.2 on 25/10/2021 compared to 18.24 on 22/10/2021, primarily driven by a slowdown in air passenger traffic. Growth in air passenger traffic, after experiencing a brief spurt in August, slowed to 82.7% y/y in September, causing the GDP nowcast for Q3 2021 to decrease by 1.21 pp, but pushed the GDP nowcast for Q4 2021 upwards, by 0.47 pp. Air cargo traffic growth moderated for a fifth time in a row, to 14.9% y/y in September, which helped the GDP nowcast for Q3 2021 increase by 0.17 pp, and that for Q4 2021 increase by 1.15 pp.

GDP Nowcast data for India is updated daily, available from 24/03/2021 to 25/10/2021. The data reached an all-time high of 19.46 on 22/09/2021 and a record low of 2.62 on 24/03/2021.

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Further data and analysis on India’s economy are available on the CEIC India Economy in a Snapshot – Q3 2021 report.