Power consumption continued its fourth consecutive week of improvement. However, labour participation remained subdued, and consumer sentiment declined for the first time in three weeks following the end of the Christmas holidays.
On a positive note, retail sales of automobiles and two-wheelers rebounded after a decline in the preceding week.
Petrol and diesel sales in India declined in December due to reduced demand with the onset of winter.
However, the services sector continued to grow, as indicated by the HSBC India services Purchasing Managers’ Index (PMI) reaching a three-month high of 59.0. This marked an increase from November’s low of 56.9 and remained above the expansionary threshold of 50 for the 29th consecutive month.
- Additionally, the generation of e-way bills for transporting goods within and across states showed improvement in December after a drop in November. Furthermore, steel consumption in December saw improvement as demand increased following the conclusion of the holiday season.
