SBI Composite Index declines further in June

According to a report by the Economic Research Department of State Bank of India, the yearly SBI Composite Index for Jun’16 has declined further to 48.9 (Low Decline)

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The Yangon branch is the 54th foreign branch of the nation's largest lender, chairperson Arundhati Bhattacharya, who opened the office, said in a statement here today. (Reuters)

According to a report by the Economic Research Department of State Bank of India, the yearly SBI Composite Index for Jun’16 has declined further to 48.9 (Low Decline), compared to 51.6 (Low Growth) in May and below the benchmark level of 50, primarily due to lower credit growth.

The Monthly Index increased marginally to 50.6 (Low Growth) in Jun’16 from 50.3 (Low Growth) in May’16 due to factors such as increase in commercial vehicle and consumer durables sales.

One good thing is that growth is picking up slowly in sectors other than ‘Gems and Jewellery’. We expect that IIP growth will continue to follow the downward trend, due to weak activity in mining.

This article was first uploaded on June twenty-three, twenty sixteen, at twenty-two minutes past five in the evening.