The ICRA business activity monitor, an index of high-frequency economic indicators, firmed up to 13.4% in September from 11.4% in August, given economic and business activities gained momentum as companies embarked on pre-festive stocking.
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Retail auto sales remained robust during the Navratri period and are continuing to do so as the average daily vehicle registrations during October 1-17 stood at 51,900 units, exceeding the 50,000-mark after three months, owing to healthy festive demand.