The Hindu Business Line

Nomura ups CAD forecast to 1.4%


Global financial services major Nomura has revised upwards India’s CAD forecast to 1.4 per cent of GDP for the current fiscal from 0.4 per cent earlier. According to the Japanese brokerage firm India’s trade deficit widened to a 16-month high of $13 billion in November from $10.4 billion in October, as a result of a sharp slowdown in exports after demonetisa­tion and a pick-up in imports, led by gold and higher commodity prices. “We revise up our current account deficit (CAD) forecast to 1.4 per cent of GDP in FY17 (vs 0.4 per cent earlier),” Nomura said in a research note.

Newspapers in English

Newspapers from India