India’s manufacturing sector expanded at its slowest pace in nearly five years in July, according to a survey by S&P Global. The S&P Global HSBC India Manufacturing Purchasing Managers’ Index (PMI) fell to 53.5 in July from 54.2 in June, its lowest reading since August 2021.
Key Findings
New orders rose at the second-weakest rate in over four years, while export orders increased at the fastest pace since April. The pace of output growth was broadly unchanged from June, with consumer goods being a weak spot.
Business confidence edged up from June’s recent low, with firms citing positive expectations around demand and infrastructure projects. However, hiring increased at its slowest pace in 29 months, and input cost inflation eased to a five-month low in July.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
