Economics
India’s Economy Picks Up in September as Animal Spirits Soar
- Manufacturing sector activity is back at pre-pandemic levels
- Consumer demand showing signs of stabilizing, car sales up
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India’s economy picked up speed in September as a revival in demand and business activity helped drive the South Asian nation toward recovery from the pandemic-induced slump.
Five of the eight high-frequency indicators, including exports, tracked by Bloomberg News improved last month, while three were steady. That helped move the needle on a dial measuring the so-called ‘Animal Spirits’ to 5 from 4 in August -- a level arrived at by using the three-month weighted average to smooth out volatility in the single-month readings.