India’s economic recovery stumbles, setting stage for sustained low rates

India’s economy showed signs of cooling in June as the slow easing of localized lockdowns hurt activity, a factor likely to encourage monetary policy makers meeting next week to consider keeping interest rates at record lows to foster a durable recovery.

Contractions in both manufacturing and services sectors, which contribute more than two-thirds of India’s gross domestic product, pulled the needle on an overall activity indicator to 5 from 6, a level not…

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SOURCE: BUSINESS STANDARD