In the August bulletin, the Reserve Bank of India (RBI) said that continuing uncertainty on US trade policies shaped the global macroeconomic environment during July and August. Domestic economic activity remained mixed across sectors in July. Timely progress of monsoon has boosted kharif sowing. While industrial activity remained subdued, manufacturing sector expanded along with services sector sustaining the growth momentum. Headline inflation fell for the ninth consecutive month in July. Financial conditions remained congenial and supportive of domestic economic activity. India's sovereign rating upgrade by S&P bodes well for capital inflows and sovereign yields, going forward, RBI said in its latest bulletin.

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