India's macro indicators weaken amid domestic demand slowdown

India's macroeconomic momentum has weakened as domestic strains build, according to the latest monthly scorecard. Consumer demand lost some ground in June following a robust beginning to the fiscal year, even as production and labour-intensive exports remained resilient.

Food inflation climbed above the RBI's comfort level, raising near-term price pressures. However, improved kharif sowing has provided some relief to inflation concerns going forward.