Performance of high frequency indicators moderated in September: ICRA

ICRA on Thursday said continued base normalisation, emerging supply-side constraints and excess rainfall dampened the year-on-year (YoY) performance of most of the high frequency indicators in September 2021.

The YoY performance of 14 of the 15 high frequency indicators (except non-food bank credit) worsened in September compared to August this year, ICRA said.

This was on account of a combination of factors such as continued base normalisation (especially for motorcycles and scooters, domestic airline passenger traffic, and generation of GST e-way bills), supply side constraints (non-availability of semiconductors particularly for passenger vehicles or PVs) and excess rainfall (35 per cent