India's Manufacturing PMI for July climbs to 59.1 from 58.4 in June driven by new orders and output, shows HSBC survey as compiled by S&P Global
Flash HSBC India PMI signals expansion as manufacturing activity picks up climbing to 59.2 while India's services PMI eases to 59.8 in July
The Indian services sector growth touched a ten-month high in June aided by robust expansion in international sales and job creation, amid positive demand trends and ongoing improvement in sales, a monthly survey said on Thursday. The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 58.8 in May to 60.4 in June, driven by sharp upturn in new business orders. In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction. "The Services PMI business activity index was up to a ten-month high, led by a sharp rise in new domestic orders. New export orders also expanded, albeit at a softer pace. Margins improved, as the rise in input costs was below that seen for output charges," Pranjul Bhandari, Chief India Economist at HSBC, said. New orders expanded at the quickest rate since August 2024. Services companies benefited most from the continued strength of the domestic market, alongside a marked .
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