Highlights:
- The index of economic activity (CEM) grew at a slower pace of 6.1% in June compared with 10.7% a month ago.
- Sequentially, the index was unchanged at 118.2.
- Weak trade, rural demand indicators and labour market data weighed on the growth of index.
- Positive contributions came from PMI-manufacturing, GST collections, E-way bill issuances, credit offtake, corporate bond issuances etc.
- Major risks to the future CEM trajectory are: slowing external demand, high food prices and uneven rainfall.
