INSUBCONTINENT EXCLUSIVE:
signs of a slowdown the preceding month.
The needle indicating so-called animal spirits moved right after holding steady for five straight
Consumer spending boosted tax collection and manufacturers signaled optimism about the future, while services sector saw expansion of new
has some vulnerabilities on the path ahead
Exports contracted in two of the past three months, leaving several companies struggling to secure new work from key overseas markets
Prices of finished products rose as firms passed on higher input costs and business expenses
animal spirits barometer uses a three-month weighted average to smooth out volatility in single-month readings
The composite index climbed to an 11-year high
New orders in manufacturing also climbed the fastest since February 2021, while services firms saw new businesses increasing for the
Lima, Economics Associate Director at S-P Global Market Intelligence.ExportsExports fell 12.2 per cent in December compared to a year ago,
but at $34.5 billion were still at a three-month high in value terms, data released by the trade ministry showed
Exports remain competitive despite global headwinds, Commerce Secretary Sunil Barthwal said.
Imports fell 3.46 per cent from the previous
year, narrowing the trade gap for the second month to $23.76 billion
could hinder recovery from a record-high current account gap seen during the July-September quarter.
Consumer ActivityLiquidity in the
banking system tightened, and bank credit slowed to 14.9 per cent in December, from 17.2 per cent in November
Still, double-digit loan growth was a vast improvement over the single-digit expansion observed between September 2019 and March 2022.
Goods
and services tax collection, which helps measure consumption in the economy, rose 15 per cent
Revenue collection has stood at more than 1.4 trillion rupees for 10 straight months
New vehicle registrations rose 8.2 per cent in the month, according to data from the Federation of Automobile Dealers Associations.
Market
SentimentElectricity consumption, a widely used proxy to measure demand in industrial and manufacturing sectors, rose from the previous
Peak demand at the end of December rose to 171 gigawatt from 162 gigawatt a month ago
