India’s Economic Performance Review for October 2022

India’s economic outlook remains volatile due to the impact of continuing uncertain geopolitical shocks, global recession and rising prices. Nevertheless, the economy has shown some resilience and consumer spending and demand have continued to show positive trends in the month of October 2022. Industrial output and urban employment also improved during October, but the trade deficit ballooned due to plunging exports. The Indian currency also plummeted to its historic lowest level against the dollar. Retail inflation was also down, though, which may help restore investors’ confidence in the Reserve Bank of India’s (RBI) monetary policy measures.