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As cash-crunch eases, India's economy starts picking up pace again

November saw activity in manufacturing and services' sectors pick up. Inflows of new work expanded at the fastest pace in over two years, supporting further job creation

indian economy

India is showing signs of overcoming tight money conditions, with lending and business activity picking up in Asia’s third-largest economy. An overall activity indicator measuring "animal spirits" moved two notches up in November from a month ago. The gauge, compiled by Bloomberg News, reflects strength in new orders boosting business activity, but more importantly a rebound in a liquidity indicator. Consumer sentiment and demand remained subdued, but the government’s decision in December to slash taxes on some goods and services may help ...