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India Economy Stabilizes in November as Retail Demand Improves

  • Services activity expands for a second month in a row
  • Car sales and retail footfalls also show improvement in demand

India’s economic activity showed signs of stabilizing in November, even as concerns of fresh virus outbreaks and a new strain in the U.K. mount amid news of vaccines fueling hope.

All eight high-frequency indicators tracked by Bloomberg News were steady last month, keeping the needle on a dial measuring the so-called ‘Animal Spirits’ unchanged at 5. The level was arrived at by using the three-month weighted average to smooth out volatility in the single-month readings.