Thought for the day

Indian Economic Growth Continues To Power Ahead

All growth-related Indexes remain positive: the outlook for GDP in the second half of 2024 remains bullish.


 
Last updated: 22 July 2024
 
Indian Sales Managers report another month of rapid economic growth in July. All growth related indexes are now reflecting strong expansion across a wide variety of business sectors.

The Business Confidence Index reflecting the vital "animal spirits" factor in economic growth indicates that continued rapid expansion in economic activity is expected over the third quarter and probably fourth quarters of 2024.

And the Jobs Index, for so long reflecting business caution in recruiting after the difficult Covid period, remains well over the 50 "no growth" bar, adding to the impression that business confidence is increasingly positive.

India Prices Charged Index: July 2024
Diffusion Index. (50 = 'No Growth')
Indian Economic Growth Continues To Power Ahead
Even the Prices Index, for so long illustrating the persistence of price inflation following the long Covid period, is currently at an at an 8 month low, suggesting price inflation may be finally on the retreat to more normal territory.

Overall, the survey results are good news for India. And, as long as the business boom doesn't degenerate into a business bust, good news for investors.
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