Optimism the Indian economy will soon recover, despite no sign that it is anywhere near doing so, has increasingly led forecasters to overestimate industrial production growth.
Mark these words. Not only is Britain going to avoid a triple-dip recession, but the economy won’t shrink again as far as the eye can see.
Forecasts about the future for the euro zone economy are starting to resemble a multiple-choice novel. Are you an economist working for an Anglo-Saxon institution? Then turn to p.65 — “Recession for the euro zone”. A German bank? Go to p.80 — “Happy days are here again!”
High inflation is a drag on economic growth in the world’s second most populous country and matters immensely to over 400 million people, or over a third of India’s total population, who struggle to earn enough to feed their families three meals a day.
By Sarmista Sen and Sumanta Dey
Economists predicting jobs growth in the United States, or rather the lack of it, scored an unfortunate hat-trick on Friday – vastly overestimating the rise in payrolls for three consecutive months.
These are just a few of the (printable) words analysts have used to describe the August release of the Philadelphia Fed’s factory activity index.