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Belying slowdown fears, Indian economy's animal spirits move to the right

Prices of finished products rose as firms passed on higher input costs and business expenses

Indian economy, economic slowdown
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Photo: Bloomberg

Anup Roy & Vrishti Beniwal | Bloomberg
India’s economy picked up speed in December as business conditions improved, marking a rebound for the South Asian nation that had showed signs of a slowdown the preceding month.

The needle indicating so-called animal spirits moved right after holding steady for five straight months — indicating stronger overall economic activity as 2022 drew to a close. Consumer spending boosted tax collection and manufacturers signaled optimism about the future, while services sector saw expansion of new businesses.

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First Published: Jan 19 2023 | 8:52 AM IST

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