Stories
Moneycontrol Index Rises in September on Stronger Manufacturing and Services
- •The Moneycontrol Advance Business Index rose to 102.8 in September from 101.1 in August, staying above the 100-mark for the ninth consecutive month.
- •Growth was driven by a recovery in manufacturing sentiment, improved services PMI, stronger vehicle sales, and higher coal output.
- •Four-wheeler sales grew 32.4 percent and two-wheeler sales surged to 33.5 percent, signaling a recovery in urban consumption demand.
- •Some indicators showed softness, including slower fuel consumption growth, a sharp drop in the Naukri JobSpeak Index, and a contraction in credit card payments.
- •The strong September data supports expectations of continued above-trend economic growth, with the RBI revising its second-quarter forecast upward.
Key Questions Answered
The Moneycontrol Advance Business Index rose to 102.8 in September from 101.1 in August, driven by a recovery in manufacturing and services sentiment, stronger vehicle sales, higher coal output, and continued support from digital payments and credit growth. This marked the ninth consecutive month the index stayed above the 100-mark, reflecting above-trend economic growth.
September data showed a broad improvement across vehicle sales and coal activity. Four-wheeler sales grew 32.4 percent year-on-year, two-wheeler sales improved to 33.5 percent, three-wheeler registrations rose 63.5 percent, and tractor sales recovery reached 14.4 percent. Additionally, coal production rose 9.2 percent after a contraction in August, and coal offtake growth increased to 12.4 percent.
The Moneycontrol Advance Business Index is a composite indicator built on 18 high-frequency economic indicators covering consumption, mobility, financial activity, labour demand, and industrial output. Released around the 10th of every month as an early signal of economic momentum, a value above 100 indicates above-trend growth, while a reading below 100 signals below-trend activity.
