ZyFin Research, a leading financial research and analytics company, today announced its estimate of monthly GDP growth-a barometer of India's economic health. The monthly GDP (mGDP) has registered growth of 6.2% in June 2014 (year-on-year [YoY]), as compared to 6.8% and 4.9% in the prior two months. ZyFin, therefore, estimates GDP growth for first quarter (Q1) of 2014-15 at 6.0%. The government estimate for the same will be made available by the Central Statistics Organisation on Friday, Aug. 29, 2014.

The ZyFin mGDP is India's first and only estimate of India’s GDP numbers on a YoY and sequential month-on-month basis, with seasonal adjustments, as is done in most developed economies.

The key highlights of the monthly GDP growth Indicator for June 2014 are:

> ZyFin estimates YoY GDP growth at 6.2 % for June 2014, as compared to 6.8% in May 2014.

> As per ZyFin estimates, the Q1 2014-15 GDP growth stands at 6.0%, suggesting a better growth environment as compared to the previous financial year.

> Strengthening in the manufacturing and services sectors over the past three months are key to the improved growth; however, agricultural growth has been constrained, having dipped continuously since the start of the calendar year.

> Inflation, as measured by the GDP Deflator, declined to 5.7%, from 6.4% in the previous month. The GDP deflator is a more comprehensive measure of underlying inflation and is widely used in developed economies.

> The strong improvement in the services sector is in sync with the ZyFin Consumer Outlook Index estimate of rising willingness to spend among urban consumers.

Commenting on the June GDP number, Debopam Chaudhuri, chief economist, ZyFin Research, said, ''The India story is once again starting to heat up. With the ZyFin GDP estimates now indicating a turnaround as well, we are quite hopeful that achhe din are just around the corner. Some of the contributors to this include revival in consumer sentiment, easing liquidity and an expanding manufacturing sector, which employs the majority of the urban working class.''