India's Manufacturing Activity Slows in July, HSBC-S&P Survey Shows

MT Newswires Live

Aug 03

Manufacturing activity in India grew at a softer pace in July, with the HSBC India Manufacturing Purchasing Managers' Index (PMI) easing to 53.5 from 54.2 in the previous month, according to data compiled by S&P Global and released on Monday.

The reading missed the consensus forecast of 53.9 tracked by Investing.com. A reading above 50 indicates expansion in the sector, while a figure below signals a contraction.

The latest performance was driven by resilient demand, with manufacturers reporting sustained growth in new orders and output despite softer momentum.

New export orders accelerated, supply chain conditions improved, and input cost inflation eased to a five-month low, while employment growth slowed to its weakest pace in the current 29-month expansion.

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