Posted on 06/15/2023 3:19:41 AM PDT by Cronos
1.1 percent (US), 4.5 percent (China), 1.6 percent (Japan), (-) 0.3 percent (Germany), 6.1 percent (India). These widely varying figures are the real or inflation-adjusted gross domestic product (GDP) growth numbers of the world’s top five economies during January–March 2023.
India’s GDP grew 6.1 percent (compared to 4 percent in the same quarter of 2021–22), making it the fastest-growing among the world's top economies.
During the full year of FY2022-23, India’s GDP expanded 7.1 percent, slower than the previous year’s 9.1 percent expansion. GDP, which is the value of all goods and services produced in a country, often serves as a primary metric to assess an economy’s expansion during a certain period. Although this approach has its fair share of critics, given that GDP is a quantitative metric that does not fully capture everything in an economy.
That said, there are some data points in the provisional estimates of annual national income 2022–23 put out by the National Statistical Office (NSO) on May 31st, as per the Moneycontrol report, that point towards a deeper analysis.
While analysts were pleasantly surprised by the strong growth rate, they also warned of uneven terrain ahead for the economy, as per the ET report. Growth rates came in higher than analyst expectations, boosted by government and private capital spending even as private consumption remained sluggish.
The gross value added (GVA) growth in the manufacturing sector accelerated to 4.5 percent in the March quarter, as against 0.6 percent a year ago.
GVA growth in the mining sector was 4.3 percent in the fourth quarter, compared to 2.3 percent in the same quarter of the previous fiscal year. The construction sector grew 10.4 percent in the March quarter, up from 4.9 percent in the corresponding period of 2021–22. The agriculture sector's growth accelerated to 5.5 percent from 4.1 percent.
However, there was a decline in both exports and imports, clouding the economic outlook. Barring any monsoon-related risks or geopolitical uncertainties, India's economy may surpass the initial estimate of 6.5 percent growth for the current fiscal year (April 2023 to March 2024).
Keep in mind that private consumption, which accounts for nearly 60% of the economy, grew 2.8% year-on-year compared with a revised 2.2% in the previous quarter, while capital formation, an indicator of investment, rose 8.9% from a downwardly revised 8%. As per the report, federal government spending, which constitutes about 10% of GDP, rose 2.3% year-on-year in the latest quarter, compared with a revised 0.6% contraction in the previous quarter.
If this is true, why the hell are they all illegally sneaking into the U.S. and running for political office with government paychecks?
Certainly nice of Europe to give up their economic growth, so that China and India could have cheap Russian fuel.
“Europe”? You mean the EU?
The EU had no choice - Russia invaded Ukraine and that was the latest in Putin’s threatening moves against his neighbors which would have culminated (if not stopped) in attacks on central European powers
you have Indians who illegally sneak into the US to run for political office with government paychecks?
“which would have culminated (if not stopped) in attacks on central European powers”
That line went away nearly a year ago, so you might want to update your CHAT.
The working line now is that Putin is a PAPER TIGER who cannot even defeat a Third Rate country like Ukraine and has been LOSING TERRITORY in the past year. Plus, Russia’s economy is 5% of the size of Europe’s, or whatever you guys claim these days. All that is needed to march on Moscow are a more Leopards.
By the way, Hungary doesn’t seem very worried, at all, about Putin. They’re more worried about the Hungarians trapped in Ukraine who are now being used as cannon fodder by the Neocons.
And don’t think over there in Poland, that once the Globalists have no more use for you guys against Ukraine, you won’t go back to being treated like Hungary/Serbia are now treated. You guys seem to have short memories of those days, but there is NO WAY your government will be allowed to continue with the immigration/social policies of Hungary/Serbia, not with the bunch you’re in bed with.
Two of the top five—China and India—are our enemies, which we are funding to compete and threaten us. We should use that commerce to reign them in or shut them down.
India is not the enemy of the USA.
note = "culminated"
China has a large GDP, but they also have the biggest population in the world, which then makes their people still poor, on average per person. Same with India.
Says you. Then steal our intellectual property, they invade us with their excess population, they engage in commerce with our enemies (Russia), they do not support us internationally, so Yes, they are also our enemy. Engage them if you want, give them jobs, spend money with them, but know they are our enemy and Americans suffer now, Americans will someday die for your actions.
“which would have culminated (if not stopped) in attacks on central European powers”
Did your subscription to the Daily Mail run out? They’re no longer claiming that, as that only worked when Russia was winning, now they’re ‘losing’, and can be finished off if we just finish off emptying our arsenals.
You really need to get with the working narrative!
Great!!! Now all those H1Bs that have flooded our country for the last 20 years, replacing our own people at scads and oodles of good jobs and vote Democrat can go back home and participate in their country’s resurgence!!
The GDP growth number for China is fiction.
With the collapse of Real Estate and Banking, the Auto Industry and many, many retail companies, the GDP may actually be negative.
China is in unmeasurable turmoil necessary to purge nonXi thought
Hey, I’ll bet their carbon footprint is much smaller than ours.
I’m surprised Australia is so low on the GDP list, only one place above Mexico. I expect Mexico to be where it stands, due to widespread corruption and Gang fiefdoms, but Australia is vast and seemingly First World in its slgeneral standard of living. Perhaps there are several undeveloped areas.
Mexico has more than 5 times the population of Australia, so their per capita income is roughly 1/5th that of Australia’s.
| # GDP | Country | GDP Nominal | GDP per capita rank | GDP per capita Nominal |
| 1 | USA | $27 Trillion | 7 | $80K |
| 2 | China | $19 Trillion | 64 | $14K |
| 3 | Japan | $4.4 Trillion | 28 | $36K |
| 4 | Germany | $4.3 Trillion | 19 | $51K |
| 5 | India | $3.7 Trillion | 139 | $2.6K |
Says everyone. India is not the USA’s enemy. It isn’t an ally yet.
There is Intellectual property rights in India unlike China.
Irrelevant — as I said - it WOULD HAVE culminated if not stopped.
The fact that Russia is a paper tiger is secondary — Russia was able to crush Ukraine in 2014, but not in Feb 2022 because Ukraine was able to toughen up.
If Zelensky had run away (as everyone, including your pal Biden, expected him to), then Ukraine would have collapsed as Putin expected. Then the next targets would be the Baltic countries.
The fact that Russia has been stopped doesn’t negate the fact that if they had NOT been stopped, then Putin would be emboldened to attack further.
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