India’s external sector shows resilience due to a narrowing trade gap and comfortable foreign exchange reserves. Inflationary pressures have intensified due to geopolitical tensions and supply-side bottlenecks. The RBI reported an increase in both industry and services indicators, showcasing economic strength. The IMF has revised India’s growth projection for 2026-27 to 7% based on resilient domestic demand. Global financial volatility has increased amid global challenges and rising inflation risks.
US consumer sentiment near record low ahead of midterm elections
In October, consumer sentiment in the U.S. plummeted to a concerning 48.0, driven by rising prices and economic worries amid the ongoing Middle East conflict.