After stable December, needle dips in some economic indicators
There are signs of slowdown in some industries, reveal data; third wave of COVID may weigh on the indices
The nation’s services sector expanded for the fifth month in a row, while the manufacturing sector expanded for the sixth month. (Representational image)
As 2021 closed down, the nation’s key economic indicators remained more or less stable. Yet, there were early signs of slowdown in some segments, which could have intensified this month because of the onset of the third wave of COVID. Considering the economy is just getting back on its feet after two waves of the pandemic and associated lockdowns, the central bank is likely to retain an accommodative bias in its monetary policy, said a Bloomberg report.
Citing its economic activity tracker that covers “eight high-frequency indicators”, Bloomberg said some of the indicators show stability while the others hint at weaknesses.
Business activity expands