The Big Picture: Indian Economy - Shaking off a Slump

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The Big Picture: Indian Economy - Shaking off a Slump

India’s economy appears to be shaking off a slump Bloomberg reported on Friday. The report said activity in the services and manufacturing sectors expanded for a second straight month in December, thus suggesting the worst could be behind us. Bloomberg News reported that the needle on a gauge measuring so-called animal spirits signaled the economy may be taking a turn for the better, as five of the eight high-frequency indicators came in stronger last month. The dial was last at the current position in August. Meanwhile, IMF chief Kristalina Georgieva said growth slowdown in India appears to be temporary and she expects the momentum to improve going ahead. Speaking at the WEF 2020 in Davos, she also said the world appears a better place in January 2020 compared to what it was when IMF announced its World Economic Outlook in October 2019.