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Economics

Services, Trade Help Power Steady Economic Recovery in India

  • ‘Animal Spirits’ gauge shows momentum unchanged for 4th month
  • GDP data next week is expected to reflect continued expansion

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.