Economics
India’s Steady Economic Recovery Braces for Ukraine War Risks
- Indicators showed overall activity remained stable in February
- Policy makers reiterate that economic growth remains key focus
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India’s services and manufacturing activity held steady in February, even as the war in Ukraine clouds the outlook for prices and growth in the consumption-driven economy.
All eight high-frequency indicators compiled by Bloomberg News showed activity was steady last month, with the needle on a dial measuring so-called ‘Animal Spirits’ staying put at 5 for the eighth straight month. The gauge uses the three-month weighted average to smooth out volatility in the single-month readings.