Economics
India’s Animal Spirits Stabilize as Virus Rages Across Economy
- Manufacturing sector bounces back to growth after shrinking
- Car and retail sales are showing signs of recovering
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India’s economy showed signs of stabilizing in August with manufacturing and services gradually improving even as coronavirus cases escalated across the country.
Five of the eight high-frequency indicators compiled by Bloomberg News gained last month, while two were unchanged and one deteriorated. That kept the needle on a dial measuring so-called animal spirits steady at 4 -- a level arrived at by using the three-month weighted average to smooth out volatility in the single-month readings.