A strong third quarter on the cards for the Indian economy
GST surged 15% from a year earlier to ₹1.68 lakh crore in November, as the festival season and strong economic activity contributed to growth, showed data released Friday. At the moment, most of the other indicators seem to be suggesting that there is resilience in the economy, said Upasna Bhardwaj, chief economist, Kotak Mahindra Bank. Key Points
Economic TimesUK's new car sales up 9.5% in November as fleets snap up latest vehicles
International Business News: New car sales in Britain grew 9.5% YoY in November, nearing pre-pandemic levels as fleets invested in the latest vehicles. The Society of Motor Manufa Key Points
Times Of IndiaIndia’s services PMI ends 2023 on a high note; rises to 59.0 in Dec from 56.9 in Nov
India's services PMI rose in December on the back of strong demand that spurred sales and fuelling business activity. Job creation extended into the 19th successive month, while business optimism strengthened. Key Points
Business TodayIndia's steel production grows 11% to 11.7 MT in November; global output at 145.5 MT: worldsteel
The global steel production in November was at 145.5 MT, 3.3 per cent up over same month in 2022. The world output rose marginally by 0.5 per cent to 1,715.1 MT in January-November 2023, worldsteel said. Key Points
Economic TimesIndia's steel production grows 11 pc to 11.7 MT in Nov; global output at 145.5 MT: world steel
India Business News: India's crude steel production in November increased by 11.4% to reach 11.7 million tonnes (MT), according to the World Steel Association. The country Key Points
Times Of India
FPIs trim short positions, lay ground for a pre-Diwali rise
Foreign portfolio investors (FPIs) have reduced their bearish bets on Nifty and Bank Nifty futures contracts, raising hopes for a 1.5% gain in the Nifty before Diwali. Key Points
mintUS inflation trending lower; consumer spending strong in December
US prices rose marginally in December, keeping inflation below 3% for a third straight month. The Federal Reserve is expected to cut interest rates this year, although the timing is uncertain. Consumer spending surged at the end of 2023, leading to expectations of a rate cut. Financial markets have lowered the odds of a March rate cut, indicating the economy's resilience. The central bank is likely to keep its policy rate unchanged next week. Key Points
Economic TimesIndia services PMI rises to 3-mth high in December as input inflation hits 40-month low
India's services activity increased in December 2023, driven by demand, job creation, and business optimism, according to a private survey. The HSBC India Services Purchasing Managers' Index rose to 59.0, marking 29 consecutive months of expansion. The survey cited positive economic conditions and demand trends as key determinants of output growth Key Points
Economic Times‘Modi & BJP not in celebratory mood this election, public favours Congress,’ writes Urdu press
ThePrint’s round-uhttps://theprint.in/world/white-house-blasts-musks-hideous-antisemitic-lie-advertisers-pause-on-x/1849673/p of how the Urdu media covered various news events through the week, and the editorial positions some of them took. Key Points
ThePrintDyson and Apparel Group Black Friday Sale: Check out top deals and offers
Dyson and Apparel Group are offering exciting deals for Black Friday and Cyber Monday. Dyson offers up to ₹17,000 savings on products, along with a 10 percent instant bank offer. Apparel Group has deals from popular brands. Key Points
mint
Blue Beetle’s Digital Release: Here’s what we know so far
Blue Beetle won't stream on Max in October 2023, disappointing DC fans. Despite earning $128 million at the box office, the movie fell short of expectations due to strikes. It's currently available for digital purchase or rent, with a likely mid-November streaming release on Max. Key Points
Economic TimesDeep depression over Bay of Bengal. IMD issues heavy rainfall warning for Odisha and West Bengal
The India Meteorological Department's latest forecast indicates the concentration of a low-pressure area into a Depression over West Central Bay of Bengal, which is expected to intensify into a Deep Depression off Andhra Pradesh coast by November 16. This has resulted in heavy rainfall in coastal Tamil Nadu, Puducherry, and Karaikal, with forecasts predicting rain along the coasts of Odisha and West Bengal on November 16 and 17. The depression's current location is about 510 km southeast of Visakhapatnam, and the IMD urges caution for fishermen and coastal residents. Key Points
Economic TimesUS dollar holds losses after inflation data
International Business News: The US dollar held losses on Friday, after data showed inflation rose modestly in December but was trending lower. The Federal Reserve is expected to cut interest rates based on the trend of lower inflation. Find out more about the latest inflation data and its impact on the US dollar. Key Points
Times Of IndiaAfrican crude makes up for fall in Russian imports
Russia's share in India's imported crude market shrank to 30% in December from 34.5% in November. Africa's share increased to 7.6% from 4.7%. The shares of Iraq (22.3%) and Saudi Arabia (16.4%), the second and third-largest suppliers respectively, expanded about one percentage point each. India's imports of Russian crude in December were the lowest in 11 months, with the largest declines from Urals and Sokol crude, according to Vortexa. Key Points
Economic TimesWholesale inflation rises at fastest pace in eight months
Spikes to 0.26% in Nov on costlier vegetables. Wholesale price-based inflation rose at its fastest pace in eight months, rising by 0.26% in November mainly due to Key Points
The Tribune India
Wholesale price inflation at 0.3% in November after 7 months of deflation
Wholesale price inflation in India rose to 0.3% in November, ending seven months of contraction. The increase was driven by higher prices of food arti Key Points
Times Of IndiaWhite-collar hiring falls 12% in Oct-Nov: Naukri JobSpeak Index
Oil & gas, pharma and insurance were among sectors that exhibited job growth from a year earlier during the two-month period. In the IT sector, one of the largest employers in India, hiring fell year-on-year, but month-on-month data suggest a stabilisation in activity. Key Points
Economic TimesIndia’s manufacturing growth rises in November, maintains strong momentum
The PMI rose to 56.0, indicating a robust expansion and maintaining a positive trend for nearly two and a half years, with a reading above the 50-mark separating expansion from contraction. Key Points
India Today