India Data Response Industrial Production (Dec.) Industrial production growth turned negative again in December. Demonetisation probably played a role in the slowdown, but it is also the case that November’s faster growth was mostly due to one-off... 10th February 2017 · 1 min read
India Data Response Manufacturing PMI (Jan.) The rise in India’s manufacturing PMI in January is an early sign that the worst of the impact on activity from demonetisation may be over. Looking ahead, local manufacturers should gradually recover... 1st February 2017 · 1 min read
India Data Response Wholesale Prices (Dec.) Indian wholesale price inflation edged up in y/y terms last month, but dropped in m/m terms as price discounting continued to take place following demonetisation. Nevertheless, further ahead... 16th January 2017 · 1 min read
India Data Response Consumer Prices (Dec.) & Industrial Production (Nov.) Consumer price inflation dropped again in December as price discounting continued following demonetisation. A rate cut can’t be ruled out in the near term but, over the longer term, demonetisation... 12th January 2017 · 1 min read
India Data Response Wholesale Prices (Nov.) Indian wholesale price inflation eased only slightly last month, supporting the message from yesterday’s CPI numbers that, while demonetisation has affected prices, there is little indication that... 14th December 2016 · 1 min read
India Data Response Consumer Prices (Nov.) The drop in CPI inflation in November can be attributed to the government’s demonetisation measures, but today’s data don’t indicate that disruption to the economy has been as dramatic as some reports... 13th December 2016 · 1 min read
India Data Response Industrial Production (Oct.) Indian industrial production data for October suggest that the sector was struggling even prior to the government’s demonetisation measures. 9th December 2016 · 1 min read
India Data Response Manufacturing PMI (Nov.) The drop in India’s manufacturing PMI reading in November reverses the strength from October. Looking ahead, local manufacturers are likely to struggle amid the fallout from the demonetisation... 1st December 2016 · 1 min read
India Data Response GDP (Q3) Today’s release of another set of strong GDP data requires two major caveats. The first is that the national accounts figures remain difficult to align with other indicators showing that activity is... 30th November 2016 · 1 min read
India Data Response Consumer Prices (Oct.) The further fall in India’s consumer price inflation last month, along with the likely shock to demand from the government’s withdrawal of most bank notes, is likely to increase the clamour for... 15th November 2016 · 1 min read
India Data Response Wholesale Prices (Oct.) Indian wholesale price inflation edged down in October, but we expect it to resume accelerating over the coming months. The big picture is that there is still little room for further policy loosening. 15th November 2016 · 1 min read
India Data Response Industrial Production (Sep.) Industrial production data for September suggest that, in contrast to the upbeat message from the strong GDP data, Indian industry continues to struggle. 11th November 2016 · 1 min read
India Data Response Manufacturing PMI (Oct.) India’s manufacturing PMI rose in October to its highest reading in almost two years, with sentiment being boosted by progress on the reform front and the RBI’s surprise rate cut last month... 7th November 2016 · 1 min read
India Data Response Wholesale Prices (Sep.) Indian wholesale price inflation edged down in September, but we expect it to resume accelerating over the coming months. The big picture is that there is still little room for further policy... 14th October 2016 · 1 min read
India Data Response Consumer Prices (Sep.) The fall in India’s consumer price inflation rate last month is likely to fuel talk of further rate cuts. However, if the RBI pulls the trigger and loosens policy again, it could ultimately backfire... 13th October 2016 · 1 min read
India Data Response Industrial Production (Aug.) Industrial production data for August suggest that, in contrast to the upbeat message from the strong GDP data, Indian industry is still in the doldrums. 11th October 2016 · 1 min read
