Scan-shot
September
2024
(with data from August '24)
September
2024
(with data from August '24)
In August 2024, the Indian economy continued its dynamic journey, with several key indicators showcasing mixed but largely positive trends. The Sensex climbed to a new high of 82,365, reflecting strong market sentiment, while GST collections remained healthy at INR 1.75 lakh crore, though slightly down from July's figure. Forex reserves reached a robust $683 billion, providing a buffer against external shocks, as imports surged to $64.36 billion, a sign of rising domestic demand.
On the inflation front, the rate dropped to a manageable 3.65%, continuing its downward trajectory, providing relief to consumers and businesses alike. However, the unemployment rate lingered at 7.9%, highlighting ongoing challenges in the labor market. Manufacturing and services PMI held steady, indicating sustained growth in both sectors, with the services sector edging up to 60.9, a strong sign of expansion.
Despite the slight dip in passenger vehicle sales, the automotive industry saw positive momentum with increased production and stronger domestic sales in August. Overall, the Indian economy continues to balance growth with challenges, as it navigates both domestic recovery and global economic headwinds.
Team Insights @Laqshya Media Group
Yuvrraj Agarwaal
(Chief Strategy Officer)
In August 2024, the Indian economy continued its dynamic journey, with several key indicators showcasing mixed but largely positive trends. The Sensex climbed to a new high of 82,365, reflecting strong market sentiment, while GST collections remained healthy at INR 1.75 lakh crore, though slightly down from July's figure. Forex reserves reached a robust $683 billion, providing a buffer against external shocks, as imports surged to $64.36 billion, a sign of rising domestic demand.
On the inflation front, the rate dropped to a manageable 3.65%, continuing its downward trajectory, providing relief to consumers and businesses alike. However, the unemployment rate lingered at 7.9%, highlighting ongoing challenges in the labor market. Manufacturing and services PMI held steady, indicating sustained growth in both sectors, with the services sector edging up to 60.9, a strong sign of expansion.
Despite the slight dip in passenger vehicle sales, the automotive industry saw positive momentum with increased production and stronger domestic sales in August. Overall, the Indian economy continues to balance growth with challenges, as it navigates both domestic recovery and global economic headwinds.
Team Insights @Laqshya Media Group
Yuvrraj Agarwaal
(Chief Strategy Officer)
Economic Indices
GDP Annual Growth Rate
(%)
GDP from Agriculture
(INR Bn)
GDP From Construction
(INR Bn)
GDP from Manufacturing
(INR Bn)
GDP from Mining
(INR Bn)
GDP from Public
Administration (INR Bn)
GDP from Utilities
(INR Bn)
GST Collection[1]
(INR '000 Cr)
Equity Inflow[2]
(INR '000 Cr)
Sensex[3]
Exports[4]
(US$ Bn)
Imports[5]
(US$ Bn)
Consumer Confidence Index[6]
Consumer Spending
(INR Bn)
Forex
Reserves[7]
(US$ Bn)
Unemployment Rate[8] (%)
Inflation Rate[9] (%)
Manufacturing PMI[10]
Services PMI[11]
Construction Output
Growth[12]
(%)
Manufacturing Production
YoY
Growth[13] (%)
Auto Production &
Domestic
Sales[14] (Lakh Units)
Passenger Vehicle
Sales[15]
(Lakh Units)
Domestic Flights[16]
('000)
Domestic Passengers[17]
('000)
[7] GST Council
[8] AMFI
[9][10] Ministry of
commerce and Industry
[12][13] RBI
[14] MOSPI
[15] CMIE
[16] MOSPI
Economics
[19] Office of the
economic adviser
[20] MOSPI
[22] FADA
[23][24] AAI
