India’s economy appears to be shaking off a slump, as activity in the services and manufacturing sectors expanded for a second straight month in December. Official forecasts show the economy is set to expand at 5% in the year ending March 2020 -- the weakest pace in more than a decade. Here are the details of the dashboard:Business ActivityThe dominant services index rose to the highest level in five months in December as improving new work orders helped boost activity. India’s manufacturing PMI also rose -- to 52.7 from 51.2 a month ago -- boosted by the fastest increase in new orders since July. The drag was mainly because of a fall in export of engineering goods, which constitute a third of India’s non-oil exports.

Source: Mint January 24, 2020 00:11 UTC