Highlights:
- Economic Activity Index was nearly unchanged at year ago level despite sequential uptick.
- High base of last year due to early arrival of festive season impacted CEM growth.
- Concerns on rural demand revival, slowing external demand and subdued private investment continues.
- Growth is expected to revive going ahead as we enter the peak festive season.
- Sustained moderation in food inflation will be critical for a turnaround in rural demand.
