SBI expects Q1 GDP growth at 7.7 pc

Kozhikode, Kerala, 30/05/2018: SBI , Kannur Road Branch in Kozhikode closed on May 30, 2018 due to the strike of Bank employees. Photo: S. Ramesh Kurup

The country’s GDP is expected to grow by 7.7% in the April-June quarter on the back of a pick-up in leading indicators like cement production, sale of vehicles and bank credit, SBI said in a report. SBI has based its assessment on its Composite Leading Indicator (CLI). “The CLI is signalling that the economic activity for Q1 FY19 has picked up substantially and the GVA growth would be 7.6%,” it said.