Growth in US to Pick up in 2016's Second Half

Growth in the US is expected to pick up in the second half of 2016 after a sluggish first half, Wipro chairman Azim Premji said on Monday. Addressing shareholders at the company's annual general meeting here, he said the unemployment data in the US had been positive and there appeared to be confidence of seeing hike in calendar year 2016. 

"The US has seen sluggish in the first half of the year after posting growth of 2.4 per cent in calendar year 2015. Growth is expected to pick up in the second half of the year," Premji said. 

Noting that the run-up to Brexit had created a significant overhang on the global economy, he said he does not see a contagion effect as Britain's exit (from the European Union) appeared to be a regional problem.

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