supported by the improvement in farm income. Nevertheless, signs are pointing to the slowing momentum of car sales which could be indications of market saturation and could potentially lead to price

income. Nevertheless, signs are pointing to the slowing momentum of car sales, with sales for the month of June declining by 2.1% yoy, the first decline in 30 months, which could be indications of market

recovery whereas non-durable and semi-durable goods namely food and apparels still contracted, pointing to a still weak grass-root economy. Private investment also showed signs of recovery that is consistent

that showed sign of recovery whereas non-durable and semi-durable goods namely food and apparels still contracted, pointing to a still weak grass-root economy. Private investment also showed signs of