Brisk vaccination rate primes Indian economy for acceleration

India’s economy showed signs it’s ready to accelerate, thanks to its services sector resuming expansion and manufacturing activity retaining growth momentum in August.

Two of the eight high-frequency indicators tracked by Bloomberg News gained speed last month, while five held steady and one slowed. The needle on a dial measuring so-called animal spirits, however, remained unchanged from the July level, as the gauge uses three-month weighted average to smooth out volatility in single-month readings.

The monthly expansion in services and manufacturing activity coincided with relatively low new Covid-19 cases and a pick up in the pace of vaccinations — more than 834 million doses have been administered so far in the nation of 1.3 billion people. That said, less than a fifth of the population is fully vaccinated and risks of a third wave of infections persist.

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