Indian business sentiment suffers setback in August

News:

• Indian business sentiment fell close to the lows of 2014 in August, a Deutsche Boerse survey said adding there is “strong possibility” that the RBI will go for a rate cut before the September 29 policy meet.
• As per the report, Indian businesses were less confident about the business environment in August as subdued domestic demand offset the positive impact of lower inflation and interest rates.
• The MNI Indian Business Sentiment Indicator, a gauge of current sentiment among BSE-listed companies, fell by 4.6 per cent to 62.3 in August from 65.3 in July.
• As per the report, confidence has now declined for two consecutive months, wiping out the gains made in June on the back of the rate cut by the Reserve Bank of India.
• Improvements in advanced economies combined with the recent weakening in the rupee helped export orders to rise 4.9 per cent to 59.7.

Source: ET