India’s economy scored higher in May riding cars and tractors: Mint tracker

livemint.com:

Mint above and four in line with their five-year average trend. In the month prior, 10 indicators were better or in line with the trend. These are the findings of the latest Mint macro tracker, which provides a monthly comprehensive report on the state of the economy, based on trends in 16 high-frequency indicators.

The tracker has been running since October 2018. For each indicator, the value in each month is assigned a colour coding (red, amber and green) to denote where it lies relative to the five-year average (red denotes worse, amber denotes it is in line with the average range, and green denotes better). Also read | Shining GDP overshadows slower GVA: Decoding growth numbers in 7 charts The better performance in May was mainly on account of improvement in domestic passenger vehicle and tractor sales, which moved out of the red into the amber zone.

While the rupee remained flat against the US dollar, it still saw an improvement from last month when the Indian currency depreciated 0.4%. The indicators that continued to be in the red were domestic air passenger growth, import cover, broadband subscriber base, and trade deficit. Also read | Auto firms piggyback on tractors’ success In another tracker run by Mint (Emerging Markets Tracker), India has maintained its position as the best-performing emerging market economy helped by a strong GDP growth.