Growth pulses of economy: Are these signs here for the long run?

Growth pulses of economy: Are these signs here for the long run?

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Image result for Growth pulses of economy: Are these signs here for the long run?Nikkei India Manufacturing PMI rose to 54.7 in December 2017 from 52.6 in November.

Calendar year 2018 begins with a glimmer of hope and the economy has a reasons to cheer, as India’s services sector bounced back to modest growth in December after contracting in the previous month.

The eight core sectors of the economy grew 6.8 per cent in November 2017. Also, the Indian manufacturing sector ended the year on a strong note, on the back of the sharpest increase in output and new orders.

To note, Nikkei India Manufacturing PMIrose to 54.7 in December 2017 from 52.6 in November.

Actually a steep rise in cement and steel output pushed up core sector growth to a 113-month high of 6.8 per cent in November from 5 per cent in October. Also, the latest data showed auto sales grew at a robust pace in December and this indicated that demand for flat steel was growing considerably.

Strong demand from auto and capital goods segments and a pickup in construction activity, following higher spending by the government led to sharp demand for cement and steel.