Highlights:
- CEM expanded by 9.4% y-o-y in July higher than 1.9% growth witnessed last month. However, the CEM witnessed a sequential moderation in July.
- Out of 16 high-frequency indicators used in CEM calculation, 13 witnessed an annual growth in July.
- Debt issuances, E-way bill and petroleum consumption aided in CEM’s performance; while slowing PMI services, contracting PV sales, and slowing credit growth hindered the performance.
