Economy not immune to global headwinds: RBI report

“The state of flux of the global economy and policies present considerable uncertainties to the macroeconomic outlook,” the RBI report said.

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The report observed that the high-frequency indicators pointed to resilient domestic economicactivities, with signs of revival in urban demand and robust rural demand. The agricultural sector sustained its growth momentum, supported by above-normal rain and higher kharif sowing.

“Although manufacturing momentum moderated slightly, business confidence inmanufacturingandservices reached a six-month peak, reflecting higher optimism,” it said.