Economics
Surge in Services Demand Helps Steady India’s Economy in August
- Services sector and loan demand growth boost sentiment
- High unemployment remains a concern as millions join workforce
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India’s economy showed signs of stabilizing last month, with strong demand for services helping weather headwinds from high inflation, according to a gauge of earliest available indicators.
From August, Bloomberg News has changed three of the eight indicators it uses to track the economy’s so-called animal spirits. It now includes power demand, goods and services tax collection, and unemployment rate, in place of the Citi India Financial Conditions Index, factory and infrastructure output.