New Delhi, Aug. 19 -- India's monthly consumption activity has shown signs of strength in recent weeks, even as investment signals remain uneven, according to a Goldman Sachs report tracking high-frequency economic data.

The report highlighted that urban consumption picked up in July, with higher passenger vehicle sales and petrol demand. Gross GST collections also improved sequentially from the July dip, though year-on-year (YoY) growth stood at 7.5 per cent. Air passenger traffic witnessed a sharp rebound in the first half of August, driven partly by holiday travel around Independence Day.

On the rural front, activity indicators showed a broader improvement. Tractor registrations and agricultural exports posted robust year-on-year gai...