India Data Response Industrial Production (Sep.) Industrial production rose above its level a year ago for the first time in seven months in September, suggesting that the recovery in Q3 will have been better than we had been expecting. Adding to... 12th November 2020 · 2 mins read
India Data Response Services & Composite PMI (Oct.) The rise in the October PMIs suggests that the economy has been rebounding a little faster than we had thought. However, there are still plenty of headwinds to the recovery. 4th November 2020 · 2 mins read
India Data Response Manufacturing PMI (Oct.) The rise in the manufacturing PMI to its highest reading in over a decade in October suggests that the recovery has been stronger than we had anticipated. But given the damage to corporate balance... 2nd November 2020 · 2 mins read
India Data Response Core Infrastructure Industries (Sep.) The slump in the core infrastructure industries index eased in September, and this suggests that overall industrial output contracted by 8% in Q3. That’s a slight upside risk to our GDP forecasts. 30th October 2020 · 2 mins read
India Data Response Wholesale Prices (Sep.) The rise in headline wholesale price inflation in September was sharper than expected but, with price pressures likely to ease in earnest over the coming months, we think further policy rate cuts are... 14th October 2020 · 2 mins read
India Data Response Consumer Prices (Sep.) Headline consumer price inflation rose by more than expected in September but there are signs that it may now have peaked. We think it will drop in earnest over the coming months which will open space... 12th October 2020 · 2 mins read
India Data Response Industrial Production (Aug.) The slump in industrial production eased in August but output is still well below its pre-virus levels. And the fiscal stimulus package announced today will do little to boost demand. The recovery in... 12th October 2020 · 2 mins read
India Data Response Services & Composite PMI (Sep.) The rise in the September PMIs is a welcome sign that the economic recovery still has legs. But with new virus cases in India still high, the road to normality will almost certainly remain long and... 6th October 2020 · 2 mins read
India Data Response Manufacturing PMI (Sep.) The jump in September’s manufacturing PMI reading to its highest in over eight years is a much-needed sign that the recovery still has some legs. But with India now a virus epicentre, containment... 1st October 2020 · 2 mins read
India Data Response Core Infrastructure Industries (Aug.) The recent improvement in output in the core infrastructure industries came to an abrupt halt in August. With India now a virus epicentre, containment measures are likely to remain in place for a long... 30th September 2020 · 2 mins read
India Data Response Consumer Prices (Aug.) Following the greater-than-expected rise in wholesale price inflation last month, it will come as some relief to policymakers that consumer price inflation held steady in August. That said, core... 14th September 2020 · 2 mins read
India Data Response Wholesale Prices (Aug.) Wholesale price inflation rose by more than most had expected in August, due mainly to a jump in the core component. A similarly sharp rise in core consumer price inflation last month – data will be... 14th September 2020 · 2 mins read
India Data Response Industrial Production (Jul.) The contraction in industrial output eased a little further in July but was still well below pre-virus levels. With India now on course to becoming the epicentre of the coronavirus, restrictions are... 11th September 2020 · 2 mins read
India Data Response Services & Composite PMI (Aug.) The rise in the August PMIs pales in comparison with the falls during the lockdown and it is highly likely that output is still a very long way from pre-pandemic levels. Given the bleak economic... 3rd September 2020 · 2 mins read
India Data Response Manufacturing PMI (Aug.) The rise in August’s manufacturing PMI is cold comfort when set against the extremely weak GDP data for Q2 released yesterday. And with new coronavirus cases showing no signs of abating, we think the... 1st September 2020 · 2 mins read
India Data Response GDP (Q2) The 24% y/y slump in Indian GDP in Q2 (Q1 of FY20/21) is one of the largest peak-to-trough falls anywhere in the world. With the country still battling with its coronavirus outbreak, the rebound in... 31st August 2020 · 2 mins read
