Recovery or green shoots?

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Although both newspaper publishers and web offset manufacturers were hit hard by the prevailing newsprint prices and the advertising downturn in the last quarter of 2008, there are some signs that may be seen as those of recovery if not resurgence. The Indian economy seems relatively strong with portents of 6 to 7 per cent GDP growth. We have found that in recent years the optimistic economists’ predictions are more likely to come true and recently our favourite among them, Surjit S Bhalla suggested that the GDP growth for the first half of this fiscal year is likely to be close to 8 per cent even taking into account the downdraft due to the drought and its effect on agricultural growth. The industrial output growth at 10.4 per cent in August is the highest in 22 months and largely attributed to the six interest rate cuts between October 08 and April 09 and reduction in taxes on consumer products and imports. ...cont´d

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