SBI launches home-grown index to track economic trends The country now has another monthly economic index, with State Bank of India on Tuesday launching a tool that will primarily track manufacturing activity to offer a forward-looking economic trends. The SBI Composite Index rivals the existing data point from British lender HSBC. The SBI index has been developed on the basis of the bank’s internal loan portfolio, which mirrors the credit demand in the country, and other data sets available in public domain. “The index will analyse data from manufacturing and services industries to determine expansion or contraction in the economy,” SBI Chairperson Arundhati Bhattacharya told reporters here while announcing the product. The bank has created two indices — the SBI Monthly Composite Index and the SBI Yearly Composite Index. Both fulfil complementary purposes such as month-on-month sentiment movement and year-on-year growth forecast, respectively.
Posted on: Wed, 10 Dec 2014 04:49:09 +0000
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