Animal spirits unchanged, economy stable in Oct: Bloomberg

India’s economic activity showed signs of stabilising in October 2021. All eight high-frequency indicators tracked by Bloomberg News were steady last month, keeping the needle on a dial measuring the so-called ‘Animal Spirits’ unchanged at five for the fourth straight month. The level was arrived at by using the three-month weighted average to smooth out volatility in the single-month readings. Demand during the festive season has helped keep momentum rolling. The steady pace will help India stay on path towards being the world’s fastest-growing major economy this year. A Bloomberg survey has projected second quarter GDP growth at 8.2 per cent on year-on-year basis.