High frequency indicators of domestic economic activity showed mixed trend in July says RBI

Reserve Bank of India (RBI) stated in its latest monthly update various high frequency indicators of domestic economic activity showed a mixed trend in July, with goods and services tax (GST) e-way bills scaling a record high and GST collections registering a robust growth, but electricity demand remained subdued. Demand in rural areas continued to show resilience. Timely progress of southwest monsoon has helped boost kharif sowing. Industrial activity remained subdued in June, dragged down by mining and electricity. Lead indicators for manufacturing and services activity showed sustained expansion in July. Merchandise trade deficit widened in July 2025 due to higher oil deficit with non-oil deficit remaining steady. Uncertainty surrounding the India-US trade deal persists.

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