(with data from January'23)
The Q3 data is here! And like the beautiful but compact Q3 from Audi, the results are 'wholesome'! The economy grew in Q3 after flat Q1 and Q2. GDP contributions from Public Admin and Utilities stood out; Consumer spending was up as well.
On to the monthly numbers: we have had an A8 month (to continue with the Audi analogy). The GST collection was a massive total of Rs. 15,50,00,00,00,000 in January 2023. That's 1.55 lakh crore rupees. Well begun is half done?
Consumer Confidence in India is not waning. It nearly touched 85! The service and manufacturing PMIs stayed comfortably above 55, construction output grew 7.4% and Auto production and sales grew after a bit of a decline (still far from the peak though!). Air travel grew too. Equity inflow dropped, expectedly, and inflation remained high. An eventful month by any standard!