Iman’s Monthly Report – August 2023

Output of India’s core sectors rose 8.2% in June – fastest in 5 months. Steel and coal production recorded a significant growth.
India’s manufacturing PMI rises to a 3-month high of 58.6 in August
India’s services PMI falls to 60.1 in August from 62.3 MoM
India’s GDP grew by 7.8% in April-June vs 6.1% in Jan-March quarter.
India’s fiscal deficit (government’s spending – earning) stood at Rs 6.06 trillion (33.9% of the annual target).
India’s 8 core sectors grew 8% in July vs 8.2% in June.
The government has raised the price of domestic natural gas to $8.60 per mmBtu for Sept vs $7.85 per mmBtu in Aug.
Housing prices rose in 43 cities in the first quarter of 2023-24. Ahmedabad prices rose 9.1%, Bangalore:8.9%, and Kolkata: 7.8%: National Housing Bank.
India’s retail inflation stood at 6.83% in August vs 7.4% in July.
India’s industrial output grew 5.7% in July vs 3.7% in June.
India’s wholesale inflation was -0.52% (prices fell) in Aug. It remained negative for the 5th straight month.
India’s trade deficit stood at $24.16 billion in August, 2.8% lower compared to Aug 2022 (lower is better).

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This analysis has been compiled by obtaining data from Iman Resources’ sources.