Weakness in Indian economy persisted in November, shows Mint tracker

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Subscribe to enjoy similar stories. The Indian economy's performance continued to display signs of weakness in November as was recorded in the previous month, showed the 16-high frequency indicators tracked by Mint in its monthly macro tracker. Six indicators remained in red, while the number of indicators in green fell to six from seven.

Four indicators printed amber. 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: The year in data: how 2024 stacked up for economy, politics, climate and more The situation has remained largely the same in the past three months.

The best performance in recent months was recorded four months ago when only three indicators were in red. The consumer segment continued to remain weak, with tractor sales dragging it down as it slipped from the green to the red zone. However, passenger vehicle sales showed some improvement as it moved from the red to amber zone.

Meanwhile, the producer economy's performance was a mixed bag with rail freight traffic numbers continuing to lag. From the external sector, the trade balance continued to remain a pain point, while labour-intensive exports also proved to be a big drag on the segment as it moved from green to the red zone. Also Read: How India’s services sector made history as goods exports floundered Mint macro tracker, which provides a monthly comprehensive report on the state of the economy, based on trends in 16 high-frequency indicators.