India's business conditions are improving despite an economic slowdown, results of a survey indicated Thursday.
The Business Cycle Indicator rose a modest 0.3 percent in August to reach 157.3, the financial information and content company BluFin said. That was the first increase since March. The index climbed 2.6 percent year-on-year in August, following 1.9 percent growth in July.
"Though growth rates are very low, a moderate monthly improvement and a continuous y-o-y growth points out to an early evidence of the business cycle to be healing," BluFin said.
The BluFin BCI is a monthly composite indicator computed based on components falling under five broad categories: Capital Markets, Foreign Trade, Policy, Real Economy and Survey. The measure reflects the state of the business cycle in the Indian economy.
"While most of the BCI components still remain significantly weak, improvements seen in some of components could be pointing towards early signs of moderation in the intensity of the slowdown," BluFin said.
"A bottoming out by end of this year cannot be completely ruled out."
by RTT Staff Writer
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