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Animal spirits unchanged: Economy stable in Nov as retail demand improves

All eight high-frequency indicators tracked by Bloomberg News were steady last month, keeping the needle on a dial measuring the so-called 'Animal Spirits' unchanged at 5

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Customers browse gold jewelry inside the Umedmal Tilokchand (U.T) Zaveri jewellery store during the festival of Dhanteras at the Zaveri Bazaar in Mumbai. (Bloomberg)

Anirban Nag | Bloomberg

3 min read Last Updated : Dec 23 2020 | 9:04 AM IST

India’s economic activity showed signs of stabilizing in November, even as concerns of fresh virus outbreaks and a new strain in the U.K. mount amid news of vaccines fueling hope.

All eight high-frequency indicators tracked by Bloomberg News were steady last month, keeping the needle on a dial measuring the so-called ‘Animal Spirits’ unchanged at 5. The level was arrived at by using the three-month weighted average to smooth out volatility in the single-month readings.

The pace of activity thus far was enough for the nation’s central bank to revise its forecast for the economy, which it now expects to exit a

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