Brokerages see global growth picking up next year, stay cautious on India

On a financial year basis, Nomura expect GDP growth of 4.7% in FY20 and 5.7% in FY21, suggesting a delayed recovery and below-potential growth through end-2020

Even as growth rates pegged to be grinding lower in India in the next calendar year (2020, or CY20), global gross domestic product (GDP) rate is set to stabilise next year and start looking up from the second half of the year into 2021, leading brokerages have said.

However, for this to happen, they expect trade tensions to ease, jobs to grow and consumption in the US to remain robust and central bank stimulus to gain some traction.

As regards India, most economists remain cautious. Analysts at Nomura, for instance, expect growth to slow further in the fourth quarter (Q4) and peg