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[ad_1] LONDON: Italy 's benchmark bond yield hit its lowest level in 15 months on Thursday as the bond market rally continued despite central bank officials' best attempts to rein in the exuberance. The Italian 10-year yield , which moves inversely to the price, fell 4 basis points (bps) to 3.566% on Thursday, the lowest since late August 2022. Meanwhile, Germany's 10-year bond yield, the benchmark for the euro zone as a whole, was last down 3 bps at 1.947%, its lowest in nine months. Yields have tumbled in November and December as inflation in the US and Europe has fallen sharply and central bankers have said interest rate hikes are almost certainly over. "It just seems like no one's been willing to stand in the way of this (rally) and you do wonder is that partly because it's year-end and no one really wants to get cut out," said Lyn Graham-Taylor, rates strategist at Rabobank. "It's always difficult at this time of year reading too mu

[ad_1] However, compared to the 6.1 percent growth recorded in the January-March period of 2022-23, the GDP growth for the first quarter of 2023-24 was higher at 7.8 percent. [ad_2] Source link https://worldnews2023.com/business/indias-gdp-growth-stands-at-7-8-for-first-quarter-of-2023-24-lesser-than-rbis-estimate-of-8/?feed_id=304581&_unique_id=665992e3898be

[ad_1] NEW DELHI: In April, India's services sector recorded its fastest expansion in almost 13 years, thanks to robust demand, according to a private survey. The S&P Global India services Purchasing Managers' Index surged to 62.0, surpassing all expectations in a Reuters poll that had predicted a drop to 57.0. The growth in services, which accounts for roughly 60% of India's gross domestic product (GDP), presents an optimistic picture for the nation's economic prospects, at least in the short term. The finance and insurance sectors exhibited the most growth, according to Pollyanna De Lima, economics associate director at S&P Global Market Intelligence. Despite a marginal uptick in employment, most firms claimed they had adequate labour capacity to meet increasing demand. The input prices index rose to a three-month high, and companies increased their charges at the fastest pace this year. As a result, alongside a brighter economic outlook, rising price