Economic Indicators Flash Early Warning Sign for India's Rebound [Business News Network (BNN) (Canada)]
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Source: Business News Network
That's the reading from the overall activity tracker comprising eight high-frequency indicators compiled by Bloomberg News. While the needle on a dial measuring the so-called ‘Animal Spirits' stayed unchanged at 5 for a seventh month, top producers across consumer durables and automobiles signaled weakness as the year wound down. The reading probably worsened this month as omicron-fueled Covid-19 cases spiked, forcing some Indian states to resort to virus-control measures including putting curbs on some services and businesses. That's likely to push India's policy makers to retain their accommodative bias as the government prepares its annual budget and rate-setters get ready to review borrowing costs in February. Below are details of the dashboard. (For an alternative gauge of growth trends, follow Bloomberg Economics' monthly GDP tracker -- a weighted index of 11 indicators.) Business Activity Activity in India's dominant services sector expanded for the fifth month, and ma
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