Indicators show Indian economy was growing steadily before Omicron hit

India’s economy was expanding at a steady pace in November, a month that saw the omicron variant of coronavirus induce fresh concerns about risks to the recovery.
 

All eight high-frequency indicators tracked by Bloomberg News were steady last month, keeping the needle on a dial measuring the so-called ‘Animal Spirits’ unchanged at 5. The level was arrived at by using the three-month weighted average readings to smooth out volatility in the single-month scores. 

But the pace of activity -- based on indicators from demand for services to factory output -- faces threats from rising cases of the