Animal spirits stir: Economic indicators hint at slow recovery for India

Any rebound in the economy might be slow, with economists in a Bloomberg survey predicting a milder contraction of 5.3% in the quarter to September

Business activity in India picked up slightly in July as a gradual improvement in services and exports showed the economy possibly moved past its worst-showing in the previous quarter.

Five of the eight high-frequency indicators compiled by Bloomberg News gained last month, while two were unchanged and one deteriorated. That helped move the needle on a dial measuring so-called animal spirits to the right after remaining stuck at a lower speed for two months.

The pickup in the gauge, which uses the three-month weighted average to smooth out volatility in the single-month readings, holds out hope for a gradual recovery in the