SBI Composite Index declines further in June

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Published: June 23, 2016 5:22:14 PM

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)

sbi online, sbi card, sbi share price, sbi companies, sbi company, SBI bank share price, SBI shares, banking and insuranceThe 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. (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.

 

 

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