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India Has Zero Possibility of Slipping Into Recession, Survey Shows
India Has Zero Possibility of Slipping Into Recession, Survey Shows
Sputnik International
The figure comes in stark comparison to several other Asian countries that are facing a strong risk of a recession in the coming year due to surging energy... 26.07.2022, Sputnik International
2022-07-26T09:47+0000
2022-07-26T09:47+0000
2023-04-06T12:14+0000
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India has a zero possibility of witnessing a recession, unlike several other Asian countries, a recent survey report by Bloomberg has revealed.According to the report, India’s neighbor Sri Lanka - which is already facing a major economic crisis and currency devaluation due to political unrest - has an almost-85 percent risk of registering consecutive negative growth.It is followed by New Zealand with a 33 percent risk, and South Korea and Japan at 25 percent each.India's neighboring Pakistan and China carry a 20 percent risk of recession, alongside Australia.Asia's overall recession risk stands at 20-25 percent, compared to 45 percent for the US and 50-55 percent for the European Union.Surging energy prices have hit countries such as Germany and France the hardest, with a spillover impacting the rest of that region, Steven Cochrane, chief Asia-Pacific economist at Moody's Analytics Inc, said in a media statement.
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India Has Zero Possibility of Slipping Into Recession, Survey Shows
09:47 GMT 26.07.2022 (Updated: 12:14 GMT 06.04.2023) The figure comes in stark comparison to several other Asian countries that are facing a strong risk of a recession in the coming year due to surging energy prices, prompting central banks to raise interest rates.
India has a zero possibility of witnessing a recession, unlike several other Asian countries, a recent survey report by Bloomberg has revealed.
According to the report, India’s neighbor Sri Lanka - which is already
facing a major economic crisis and currency devaluation due to political unrest - has an almost-85 percent risk of registering consecutive negative growth.
It is followed by New Zealand with a 33 percent risk, and South Korea and Japan at 25 percent each.
India's neighboring Pakistan and China carry a 20 percent risk of recession, alongside Australia.
Asia's overall recession risk stands at 20-25 percent, compared to 45 percent for the US and 50-55 percent for the European Union.
Surging energy prices have hit countries such as Germany and France the hardest, with a spillover impacting the rest of that region, Steven Cochrane, chief Asia-Pacific economist at Moody's Analytics Inc, said in a media statement.
