BENGALURU, July 24 (Reuters) - India's private sector growth skidded to its weakest in over four years in July as a sharp slowdown in services constrained overall expansion even though rising export orders and hiring offered limited support, a survey showed.
• HSBC's flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, fell to 54.3 in July from June's 57.1, confounding a Reuters poll median forecast for a jump to 57.7. However the index remained above the 50-mark separating growth from contraction.
• Export orders offered a brighter spot with international sales growing at the fastest pace since March.
• Among sectors, services was the biggest lag. The business activity index fell to 53.1 from June's 57.4 - its weakest reading since February 2022 - weighed by challenging market conditions, order cancellations and reduced client enquiries.
• Manufacturing was steadier but not strong enough to change the broader trend. The factory activity index eased to a four-month low of 53.9 from 54.2. Output and new orders continued to expand at a stronger pace helped by robust demand from overseas markets.
#orders #reuters #Services
• HSBC's flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, fell to 54.3 in July from June's 57.1, confounding a Reuters poll median forecast for a jump to 57.7. However the index remained above the 50-mark separating growth from contraction.
• Export orders offered a brighter spot with international sales growing at the fastest pace since March.
• Among sectors, services was the biggest lag. The business activity index fell to 53.1 from June's 57.4 - its weakest reading since February 2022 - weighed by challenging market conditions, order cancellations and reduced client enquiries.
• Manufacturing was steadier but not strong enough to change the broader trend. The factory activity index eased to a four-month low of 53.9 from 54.2. Output and new orders continued to expand at a stronger pace helped by robust demand from overseas markets.
#orders #reuters #Services
4 days ago
