India’s economic activity showed signs of stabilizing in November, even as concerns of fresh virus outbreaks and a new strain in the U.K. mount amid news of vaccines fueling hope. All eight high-frequency indicators were steady last month, keeping the needle on a dial measuring the so-called ‘Animal Spirits’ unchanged at 5. The level was arrived at by using the three-month weighted average to smooth out volatility in the single-month readings. Manufacturing activity lost some of the momentum seen in the past few months, and as a result caused the composite index to drop to 56.3 in November from 58 a month earlier. Industrial production rose 3.6% in October from a year earlier. Production of capital goods, which had declined for several months in a row, rose 3.3% from a year earlier, and so did consumer durables and non-durables.

(Live mint)