Credit Suisse Group, a leading global financial services company headquartered in Zurich, has said that India's GDP reading of 4.5 per cent for October and December quarter are "under-recorded."
In a note, the bank said, "In our view, there are some reasons to believe that the GDP growth is being under-recorded as none of the published survey data point to anything like the kind of weakness that was reported yesterday."
"The Q3 GDP growth is the lowest number since the March quarter of 2009 which was the height of the global financial crisis when GDP rose just 3.5 per cent," it added.
Credit Suisse also said a breakdown of the Q3 GDP data is better than the headline numbers, saying "all these numbers need to be taken with a sizable pinch of salt given the frequency and scale of revisions that can be made."
