Indian Economy Shows July Resilience as Business Momentum Slows

India’s economy showed some strength in July.

More goods were moved by rail than in the previous month.

Banks also increased the amount of non-food credit they had outstanding.

Growth in important core industries slowed slightly from June.

However, it was still stronger than in May.

A measure called the composite PMI showed that business activity was still expanding.

But the PMI dropped for the third month in a row.

This suggests that the broader economy may be losing some momentum even while certain production measures remain firm.