India’s Buzzing Economic Activity Belies Fears of a Slowdown
- Needle on dial swung right on surprisingly robust performance
- Export optimism may sour as key markets witness slowdown
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India’s economy picked up speed in December as business conditions improved, marking a rebound for the South Asian nation that had showed signs of a slowdown the preceding month.
The needle indicating so-called animal spirits moved right after holding steady for five straight months — indicating stronger overall economic activity as 2022 drew to a close. Consumer spending boosted tax collection and manufacturers signaled optimism about the future, while services sector saw expansion of new businesses.