India’s private sector maintained growth in July, driven by manufacturing output and increasing export orders, as per the HSBC Flash India PMI data. The Composite PMI Output Index stood at 54.3, indicating business activity growth despite a slight dip from June’s 57.1.
While services activity saw a moderation, with the business activity index dropping to 53.1 from 57.4 in June, manufacturing output improved. The Manufacturing PMI Output Index rose to 57.0, up from 56.3 in the previous month.
Despite challenges like competitive pressures and raw material shortages, growth in output and new business softened. However, export orders continued to strengthen, with both manufacturing and services firms experiencing growth in international sales.
Employment in the private sector expanded for the seventh consecutive month, although the pace of hiring remained modest. Business confidence dipped to a six-month low in July, with manufacturers showing improved optimism while sentiment weakened in the services sector.
