Economy Shows Steady Signs Of Growth Helped By Services, Trade
NDTV
India's economy showed steady signs of strengthening in October as services, manufacturing and exports kept it on course to post the world's fastest growth.
New Delhi: India's economy showed steady signs of strengthening in October as services, manufacturing and exports kept it on course to post the world's fastest growth.
Demand during India's so-called festive season has helped keep momentum rolling, as shown by a fourth straight month unchanged at a 5 on the Bloomberg News ‘Animal Spirits' gauge of indicators, which uses a three-month weighted average to smooth out volatility in single-month readings. The measure reflects strength in services and new orders last month, as well as a rebound in exports.
The steady pace will help India stay on path toward being the world's fastest-growing major economy this year. Data due November 30 will probably show gross domestic product in the July-September period grew 8.2% from a year ago, according to a Bloomberg survey, following a record 20.1% expansion the previous quarter.
Below are the details of the dashboard.
