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Sluggish Animal Spirits Highlight India’s Struggle With Slowdown

  • Overall activity gauge signals a lack of growth momentum
  • Central bank’s rate panel to decide monetary policy Aug. 7
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India's Animal Spirits Remain Sluggish

India’s economy remained sluggish in June, with the slowdown becoming more pervasive amid a slump in services and a plunge in exports.

Services activity contracted for the first time in 13 months, adding to India’s struggles in reviving consumer demand in everything from cars to bank loans. Eight high-frequency indicators compiled by Bloomberg News showed the economy lacked momentum, with the overall activity dot remaining unchanged from a month ago.