Real gross domestic product in India rose 7.8 per cent year on year in the 2026-27 first quarter, with gross value added up 8.2 per cent. Growth was below the 8.6 per cent a year earlier but near the top of the 6.9 per cent to 8 per cent forecast range. Turkey's annual growth on the chained volume index came in at 2.3 per cent, below the market's 2.7 per cent expectation, and construction contracted 1.9 per cent.
Economics & Markets··Evening
India grew 7.8 per cent, Turkey 2.3 per cent
In the first quarter of the 2026-27 financial year, the April-June period, real gross domestic product in India rose 7.8 per cent year on year. Gross value added was up 8.2 per cent. Growth was below the 8.6 per cent of the same quarter a year earlier. Turkey's annual growth on the chained volume index came in at 2.3 per cent, below the market's 2.7 per cent expectation, while the quarterly rise of 1.1 per cent slightly beat the 1 per cent forecast.[1], [2]
Investment demand rose 11.9 per cent
By sector, manufacturing grew 9.2 per cent, financial, real estate, information technology and professional services 12.1 per cent and agriculture 3.6 per cent. Gross fixed capital formation, the measure of investment demand, rose 11.9 per cent after a 5.8 per cent rise a year earlier. Forecasts had ranged from 6.9 per cent at India Ratings & Research to 8 per cent at State Bank of India. The 7.8 per cent figure landed near the top of the forecast range.[1]
Construction in Turkey contracted 1.9 per cent
On the expenditure side resident household consumption spending rose 3.5 per cent, government final consumption fell 1.8 per cent and gross fixed capital formation rose 0.6 per cent. Exports of goods and services fell 3.4 per cent and imports fell 6.4 per cent. On the production side agriculture, forestry and fishing grew 13.3 per cent, information and communication 8.6 per cent and industry 2.4 per cent, while construction contracted 1.9 per cent. At current prices gross domestic product rose 36 per cent to 19 trillion 869 billion 747 million lira. In dollar terms quarterly output came to 438 billion 347 million dollars, and the economy has now grown for 24 consecutive quarters.[2]
