Indian economy's slow-but-steady activity awaits festive season boost

India’s economy showed signs of slowing-but-steady growth last month, with businesses holding on to optimism that domestic demand will revive as the peak shopping season approaches.
 

Four of the eight high-frequency indicators tracked by Bloomberg News showed activity eased in September, while two showed improvement and two held steady. Still, the needle on a dial measuring so-called animal spirits was unchanged from a month ago, as the gauge uses the three-month weighted average to smooth out volatility in the single-month readings.

The reading belies expectations of blockbuster retail sales in the run-up to ‘Diwali,’ the festival of lights, which