Industrial Metals Update Will India’s steel industry continue to boom? India has experienced a period of uninterrupted growth in steel production for more than a decade, unmatched by any other major producer. But the country faces challenges in creating a competitive... 1st December 2017 · 1 min read
India Data Response Manufacturing PMI (Nov.) India’s manufacturing PMI rose significantly in November, following the trend across much of Asia. The reading is now at its highest in over a year, and prospects for local manufacturers look... 1st December 2017 · 1 min read
RBI Watch Government won’t get its wish Rumours that members of the government are attempting to pressure the Reserve Bank of India (RBI) to loosen monetary policy are nothing new, although continued efforts to undermine the central bank’s... 1st December 2017 · 1 min read
India Data Response GDP (Q3) Today’s national accounts data show that GDP growth accelerated in Q3, arresting a slide of five consecutive quarters. Elements of today’s data are hard to square with evidence from other indicators... 30th November 2017 · 1 min read
India Economics Update More needed to develop corporate bond market The development of a corporate bond market in India could reduce local firms’ heavy reliance on bank loans to obtain funding and improve the pricing of risk, which would have knock-on benefits for the... 30th November 2017 · 1 min read
Metals Data Response China and India gold imports (Oct.) The latest trade data for India and China show that gold imports remained weak in October. We had always thought that demand in India would soften in the second half of the year as a result of the new... 27th November 2017 · 1 min read
India Chart Pack Bank recapitalisation pushes equities to fresh highs The surge in Indian equities since the start of the year has continued over the past month, with the benchmark Sensex stock index hitting an all-time high in early November. The latest leg up has been... 22nd November 2017 · 1 min read
India Economics Update Markets shrug off ratings upgrade Indian markets appear to have taken last week’s ratings upgrade from Moody’s in their stride, with the rupee recording only very small gains against the US dollar and the 10-year bond yield staying... 20th November 2017 · 1 min read
India Economics Update Moody’s highlights positives, overlooks concerns Moody’s has highlighted a number of genuine positive recent developments in India as justifications for a ratings upgrade – though its inclusion of demonetisation among them should raise some eyebrows... 17th November 2017 · 1 min read
India Economics Update Trade deficit unlikely to widen further India’s trade deficit widened to a three-year high in October, but we don’t think this is cause for major concern. Exports should rebound following disruptions related to the GST, while commodity... 15th November 2017 · 1 min read
India Data Response Wholesale Prices (Oct.) Much like the consumer price inflation data released yesterday, wholesale price inflation came in above expectations in October. Policymakers put less weight on the WPI measure, but any lingering... 14th November 2017 · 1 min read
India Data Response Consumer Prices (Oct.) Indian consumer price inflation accelerated in October, and looks set to rise further over the coming months. As such, there is no scope for further monetary loosening. 13th November 2017 · 1 min read
India Data Response Industrial Production (Sep.) Indian industrial production growth slowed a touch but remained healthy in September, providing further evidence that the disruption caused by the introduction of the Goods and Services Tax (GST) at... 10th November 2017 · 1 min read
Asia Economics Update Philippines likely to keep rates on hold throughout 2018 Despite rising inflation, rapid credit growth and a weak currency the Philippines central bank (BSP) kept its policy rate unchanged at 3.0% today. While the consensus is expecting rate hikes next year... 9th November 2017 · 1 min read
India Economics Update Inflation will resume accelerating soon We think that consumer price inflation held steady in October as a slight rise in food inflation was offset by a drop in fuel inflation. But with core price pressures building, inflation is likely to... 8th November 2017 · 1 min read
India Economics Update Demonetisation: one year on A year after the Indian government’s surprise announcement that the bulk of the country’s bank notes were being cancelled, it is clear that the negative impact on incomes and output was substantial –... 6th November 2017 · 1 min read
