Highlights:
- The index of economic activity (CEM) grew at a 4-month high pace of 11% in May.
- Sequentially, the index rose to 118.4 in May from 111.9 a month ago.
- Positive contributions came from PMI-M, PMI-S, GST collections, E-way bill issuances, credit offtake, corporate bond issuances etc.
- Weak trade, tractor sales and labour market data weighed on the growth of index.
- Overall, economy was on a strong footing with some weakness persisting in domestic labour market and on the external front.
