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India's economic indicators give conflicting signs of recovery in July

Demand for Indian goods and services softened, a cross-section of high-frequency indicators compiled by Bloomberg News showed

Photo: Bloomberg
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Purchasing managers’ surveys showed India’s services activity in July falling to the lowest level in four months on weaker sales growth and elevated inflation. (Photo: Bloomberg)

Vrishti Beniwal | Bloomberg
India’s business and consumption activity showed conflicting signs of recovery in July as elevated inflation, rising borrowing costs and fears of a global slowdown weighed on Asia’s third-largest economy.
 
Demand for Indian goods and services softened, a cross-section of high-frequency indicators compiled by Bloomberg News showed. The needle on a dial measuring so-called animal spirits, however, remained steady at 5 last month as the gauge uses a three-month weighted average to smooth out volatility in the single month readings.

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First Published: Aug 25 2022 | 9:01 AM IST

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