Goldman Sachs economists wrote in a note that the robust private consumption growth in October-December comes as a big surprise, given sales volume of major consumer companies, two wheeler sales and others declined sharply in the quarter. Net exports contributed negatively to GDP growth after the positive contribution for the prior two consecutive quarters. Weaker growth in commercial vehicles sales, cement production and real estate sector suggests that investment was hit. The robust GDP data could also be attributed to a statistical illusion. So it (Q3 GDP growth) appears to be on the higher side.

Source: Hindustan Times March 01, 2017 08:48 UTC