India Macro Weekly: Current account widens, mixed activity picture

For the week ending September 16, 2017: 
  • On the economic activity front, the Index of Industrial Production (IIP) continued to disappoint, with a growth  of a small 1.2% in July 2017, even as it was a turnaround from the contraction witnessed during the previous month. 
  • Going by the data on merchandise trade, however, next month could show better results, as exports grew by a healthy 10.3% in August 2017, after softening to single digits in the past three months. Imports, too, continued to show a robust growth of 21%, indicating healthy domestic demand, which bodes well for consumption trends.  
  • Two inflation releases – Consumer Price Index (CPI) and Wholesale Price Index – showed an uptrend. CPI inflation came in at 3.36%, still under check, though core pressures are rising. WPI inflation, was slightly lower at 3.2%, driven by food and fuel prices. 
  • The quarterly Balance of Payments (BoP) release showed a significant widening in the current account deficit to 2.4% of the GDP as the goods trade deficit widened, and the services surplus was unable to match step. However, on the financial account, both FDI and FPI inflows into India improved.
  • On the policy front, Japanese PM, Shinzo Abe’s recent visit from Japan to India, led to the signing of a number of cooperation agreements between the two countries.
To know more about subscriptions to the full India Macro Weekly report, leave a comment with your e-mail and we will be in touch with you.


  1. What a great blog post. You summed up all the events in such a way, good job. Keep on doing this, I will follow your blog for this.

  2. Country's first-ever mutual fund IPO by Reliance Nippon Asset Management Company (AMC) was lapped up by investors. The 43-million share offering saw 81 times more demand, with bids for 3,485 million shares, worth Rs 87,830 crore. Share Tips Expert

  3. Both liberal democracy and socialist democracy may be considered forms of political democracy because these systems are based on economic and political centralization.Greitieji kreditai

  4. Online Slots & Casino Games at JHAR Casino - JT Hub
    Play over 150 casino 여수 출장샵 games 용인 출장안마 at JHAR, including the latest casino 경산 출장샵 games including blackjack, roulette, and video 삼척 출장안마 poker. 수원 출장샵