Economy
How India’s economy performed in Dec 2023: a Mint report card
Summary
- In December, four of the 16 high-frequency indicators tracked by us were in red (i.e. below their five-year average trend), six in green, and six in the middle—an improvement from six months ago.
Launched in October 2018, Mint’s macro tracker provides a monthly comprehensive report on the state of the economy, based on trends in 16 high-frequency indicators. 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 (worse, in line, or better). As of December 2023, four of the 16 indicators were in red, six in green, and six in amber—an improvement from six months ago. Here’s a glimpse of how each indicator fared.
Methodology note: For each indicator, an average band is constructed around the five-year average value. This band's size varies by volatility (it depends on the standard deviation). An indicator that lies within this range is said to be 'in line with five-year average' (code: amber). Values falling below this range are said to be in red, and those lying above this range are said to be in green. For inflation, the red/green coding is reversed.
While calculating the five-year average, data for some indicators for April-May 2020 and April-May 2021 have been removed to eliminate lockdown-induced skews in the trend. However, the five-year averages may still show high figures due to sustained base effect in several indicators in 2021 and 2022.
Monthly standings will get updated retrospectively as more data comes in.
