汇丰银行-印度经济评论：gdp数据令人更困惑-20170529-hsbc.pdfVIP

Economics 29 May 2017 India Economics Comment Pranjul Bhandari GDP numbers could get more confusing Chief Economist, India HSBC Securities and Capital Brace for an eventful GDP release on 31 May. India has launched a new IIP and WPI Markets (India) Private Limited series which could bump up full year GDP growth numbers by up to 70bps for +9122 2268 1841 pranjul.bhandari@hsbc.co.in FY17 (assuming all else remains unchanged). Peering into individual quarters, much of the upward revision will happen for early FY17, namely 1Q and 2Q. The View HSBC Global Research at: post demonetization 4Q (January to March 2017) will see a smaller upward revision (from CSOs advance estimate of 6.5% to an estimated 6.8%). Yet, the 4Q print may exaggerate growth on the ground. While the problem of using an outdated IIP and Issuer of report WPI series has been addressed, some problems r