Macro-Economic Dashboard

  • Manufacturing PMI expanded to 56.4 in March (versus 55.3 in February), while Services PMI remains buoyant at 57.8 (despite being down from 59.4 in February).
  • CMIE consumer sentiment continues to expand; and at 89.2, is at its highest since the pandemic began. Both Urban and Rural sentiments see improvement to 89.2 respectively.
  • Index of Industrial Production (IIP) in February 2023 came in at 5.6% YoY but was merely 1.1% on a 3-year CAGR basis.
  • Consumer Goods recorded a 5.6% YoY growth, driven by a strong 12.1% growth in Non-Durables. However, Consumer Durables continued to struggle and remain in contraction zone, at -4% YoY and -2.6% 3-year CAGR.
  • Coal/Steel/Cement production continue to be reasonably strong between 7-9% on YoY basis in February.
  • Bitumen consumption continued to see a slowdown in March (-1.1% YoY).
  • Railway freight traffic grew a modest 3.8% YoY.
  • GST revenue continues to grow at 12.7% YoY, with e-way bills clocking in a record 2.9mn per day in March.

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

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