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Indian economy gains momentum on pent-up demand after reopenings

The upturn in recovery of Indian economy was fueled by an expansion in services activity and a robust growth in core infrastructure industries

Indian economy gains momentum on pent-up demand after reopenings
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Vrishti Beniwal | Bloomberg
India’s economy gathered momentum in May driven by pent up demand for services and higher output from industries as reopening continued from pandemic restrictions.

Five of the eight high-frequency indicators compiled by Bloomberg News showed improvement, pushing the needle on a dial measuring so-called ‘Animal Spirits’ to 6, from 5, for the first time since July and the first upward move in more than a year. The gauge is based on the three-month weighted average scores to smoothen out volatility in the single-month readings.

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First Published: Jun 27 2022 | 7:17 AM IST

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