India Data Response Manufacturing PMI (Nov.) The jump in India’s manufacturing PMI in November suggests that the recovery is still ongoing, although it appears that global supply shortages have remained a drag. And with vaccination coverage in... 1st December 2021 · 2 mins read
India Data Response GDP (Q3) The 8.4% y/y rise in Indian GDP in Q3 (Q2 of FY21/22) is consistent with a rapid q/q rebound as virus restrictions were lifted and activity surged. But timelier data suggest that the recovery has... 30th November 2021 · 2 mins read
India Data Response Wholesale Prices (Oct.) The jump in headline wholesale price inflation in October was due almost entirely to higher commodity prices, but we think they are now close to peaking. While the RBI will be wary that wholesale... 15th November 2021 · 2 mins read
India Data Response Consumer Prices (Oct.) & Industrial Production (Sep.) India’s consumer price inflation edged up in October but remained well below the 6% ceiling of the RBI’s inflation target range. And we expect it to stay there for several months yet, which underpins... 12th November 2021 · 2 mins read
India Data Response Services & Composite PMI (Oct.) The strength in India’s PMI surveys for October suggests that economic activity continued to hold up well last month. But we still think that the recovery is set to enter a slower phase, and India’s... 3rd November 2021 · 2 mins read
India Data Response Manufacturing PMI (Oct.) The jump in India’s manufacturing PMI in October paints an upbeat picture of the health of manufacturing, but the recovery remains fragile against the backdrop of persistent global supply shortages... 1st November 2021 · 2 mins read
India Data Response Core Infrastructure Industries (Sep.) Output from India’s core infrastructure industries dropped in September, providing further signs that the industrial recovery is faltering on the back of supply constraints. 29th October 2021 · 2 mins read
India Data Response Wholesale Prices (Sep.) Headline WPI inflation dropped to a five-month low in September on the back of a fall in food and fuel inflation, both of which are likely to continue easing. And with the recent drop in consumer... 14th October 2021 · 2 mins read
India Data Response Consumer Prices (Sep.) & Industrial Production (Aug.) India’s consumer price inflation dropped further below the 6% ceiling of the RBI’s inflation target range in September, and we expect it to remain there for several more months. That’s one reason to... 12th October 2021 · 2 mins read
India Data Response Services & Composite PMI (Sep.) The buoyant readings in India’s PMI surveys for September add weight to our view that economic output rose back to pre-virus levels in Q3. But the recovery will probably lose momentum over the coming... 5th October 2021 · 2 mins read
India Data Response Manufacturing PMI (Sep.) India’s manufacturing PMI rose in September, but that is likely to prove the high point as the rapid reopening rebound fades and local manufacturers start to feel the pinch from global supply... 1st October 2021 · 2 mins read
India Data Response Core Infrastructure Industries (Aug.) Output from India’s core infrastructure industries only edged slightly higher in August, suggesting that the rapid reopening rebound has faded. The broader industrial recovery remains fragile against... 30th September 2021 · 2 mins read
India Data Response Wholesale Prices (Aug.) Following the weaker-than-expected consumer price inflation data for August released yesterday, headline wholesale price inflation data released today surprised to the upside. But it should resume... 14th September 2021 · 2 mins read
India Data Response Consumer Prices (Aug.) The drop in India’s consumer price inflation in August was driven by a continued fall in food inflation. We expect a broader easing in price pressures to bring headline inflation further below the 6%... 13th September 2021 · 2 mins read
India Data Response Services & Composite PMI (Aug.) The sharp rises in India’s services and composite PMI readings in August support our view that the economy has staged a strong rebound in Q3. But downside risks remain significant as the threat of... 3rd September 2021 · 2 mins read
India Data Response Manufacturing PMI (Aug.) The drop in India’s manufacturing PMI in August is probably just a sign of activity normalising following the strong pace of recovery in recent months. But the threat of further virus waves remains a... 1st September 2021 · 2 mins read
