PHDCCI Economy GPS Index: Economy showing strong resilience to the global headwinds: PHD Chamber

Embargo for Publications for Monday 8th August, 2022

Economy showing strong resilience to the global headwinds: PHD Chamber

Economy is moving at a swift pace and showing strong resilience to the global headwinds, said Mr Pradeep Multani, President, PHD Chamber of Commerce and Industry, in a press statement issued here today.

The PHDCCI Economy GPS Index for July 2022 has increased to 141.7 as compared to 131.3 for June 2022, said Mr Pradeep Multani.

PHDCCI Economy GPS Index captures the momentum in supply side business activity through growth in GST collections, demand side consumer behaviour through volume growth in passenger vehicle sales and sensitivity of policy reforms and impact of domestic and international economic and business environment through the movement of SENSEX at the base year of 2018-19=100, said the Industry Body.

Passenger vehicles growth, which is a significant demand indicator in GPS index, has recorded a sequential growth of 23.7%, increasing from 2,75,788 units in June 2022 to 3,41,112 units in July 2022, said Mr. Pradeep Multani.

The gross GST collections in July 2022 at Rs. 1,48,995 crore has recorded a sequential growth of 3.0% in July 2022, increasing from Rs. 1,44,616 crore in June 2022 to Rs. 1,48,995 crore in July 2022, said Mr. Pradeep Multani.

 The sequential growth of SENSEX (average of daily close) has increased by 2.3% in July 2022 from 53478 points in June 2022 to 54685 points in July 2022, said Mr. Pradeep Multani.

Economic recovery so far (Sequential)

Source: PHD Research Bureau, PHDCCI Economy GPS Index.

The PHDCCI Economy GPS Index at 141.7 for July 2022 is higher by 22.0 points from the Economy GPS Index for July 2021 at 119.7, said Mr. Pradeep Multani.

 Economic recovery so far (Y-o-Y)

Source: PHD Research Bureau, PHDCCI Economy GPS Index.

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