Concern being replaced by optimism as economy shows signs of recovery

The improvements are expected to continue, with some analysts seeing the country returning to growth as soon as this quarter

Concern about the depth of India’s recession is slowly being replaced by optimism that a recovery is taking hold.

A slew of indicators from car sales to services sector activity notched higher last month, while alternative data signal robust demand in an economy that’s primarily driven by domestic consumption.

Data due Friday will likely show gross domestic product declined 8.2% in the three months through September, according to economists surveyed by Bloomberg. While that pushes Asia’s third-largest economy into its first technical recession in records going back to 1996, it’s a sharp recovery from the record 24% contraction the previous