India's Factory Activity Improves In July, Domestic Demand And Output Strengthens

India's factory activity improved in July as domestic demand and output strengthened, encouraging firms to hire at the fastest rate in five months, a private business survey showed on Thursday. The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, edged up to 52.5 in July from June's 52.1. It has remained above the 50-mark separating contraction from growth for two years. New orders, a measure of overall demand, came in at a faster pace last month and helped boost factory output. But growth in foreign demand slowed to its weakest rate in 15 months. However, the overseas demand was hampered by slower global trade flows, underscoring the brodening impact of international tariff tensions, especially led by the bruising Sino-US row that has entered its second year with no resolution in sight.

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