Economics
India Economic Indicators Gave Mixed Signals on Recovery in July
- Some growth sacrifice seen as the central bank raises rates
- Global slowdown risks hurting demand for goods, services
Shoppers at a vegetable, fruit, and flower market in Bengaluru, India.
Photographer: Samyukta Lakshmi/BloombergThis article is for subscribers only.
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.