Watching monthly numbers of economic data can be devastating. The problem is aggravated by Analysts that look for green and blue shoots without allowing for a trend to develop that is sustainable.

Long term Elliott wave patterns warn in advance of potential deterioration in the economic climate. Elliott waves forecast higher rates and a weak economy in 2015 itself. Yes it can be wronged by inflationary government action but so far it has not. So far RBI has cut rates but will it work? Still to be seen.