AMEP index shows loss in economic recovery momentum in Nov 2021

Acuite Ratings & Research’s proprietary Acuite Macroeconomic Performance (AMEP) index declined to 111 in November 2021 from a post-Covid peak of 124.9 in October 2021. The credit rating agency observed that the contraction of the index sequentially by 11.2 per cent month-on-month (m-o-m) indicates a loss in momentum of economic recovery in November. However, the magnitude of deceleration is higher than the average of around 6.5 per cent recorded in the last two years in November, it noted. The decline was primarily driven by weak tractor sales, e-way bills, auto sales, exports and power generation. For 2021-22, Acuite has retained its GDP growth forecast at 10 per cent.