Data Bytes
CEIC Leading Indicator for the US lowest in two years
July marked another month of declining vehicle sales in the US, as they dropped by 11.3% y/y
Data Bytes
India’s policy rate rises by 50bps as greater upside risks to inflation emerge
The monetary policy committee took note of the deteriorating global economy and a steady recovery in domestic demand
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India’s manufacturing PMI rises sharply to 56.4 in July 2022
The turnaround was driven by an improvement in domestic demand
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China real GDP only grew by 0.4% y/y in Q2
It’s the worst economic performance ever since China recovered from the first wave of COVID in 2020
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US business cycle in downturn according to the CEIC Leading Indicator
This is the sixth consecutive drop of the non-smoothed indicator
Data Bytes
India’s INR/USD exchange rate continues to depreciate, closing at 78.94 in June 2022
By July 7, 2022, the INR/USD had reached 79.19