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India’s private sector is moving fast. According to the HSBC Flash India Composite Purchasing Managers Index (PMI) released on Thursday, due to the boom in global demand and manufacturing activities, the country’s private sector rally in July. There is evidence that in the past more than a year, commercial activities in the private sector have increased as the scope of both manufacturing and service is increasing.
How much was manufacturing PMI in July?
In July, the manufacturing PMI index increased from 58.4 to 59.2, which is the highest level ever in the last 17 years. The credit for this strong performance can be directed for the boom in demand, more export order and continuous increase in production. Meanwhile, the services PMI stood at 59.8 in July, slightly less than 60.4 in June. Although the continuous expansion of the activities of the services sector is going on, the speed of growth has decreased slightly.
Chief India Economist Pranjul Bhandari at HSBC said, “India’s flash composite PMI remained strong at 60.7 in July. Sales, export audiences, output levels got more strength to its strong performance. The manufacturers of the country played a leading role in the field by registering a sharp extension against the services on these three standards. ”
Input cost edge, dull employment growth
The survey also indicated an increase in international orders for private sector companies in the country at the beginning of the second quarter of FY 26. July saw a significant increase in both input prices and output charges. Pranjul Bhandari further says, “Meanwhile, in July, the pressure of inflation is increasing with an increase in both input costs and output charges. Finally, the business confidence came to its lowest level since 2023, while the increase in employment was also slow. ”
However, despite this, companies remain optimistic about production next year. In particular, hiring in the service sector has accelerated, which indicates economic expansion as well as continuous employment generation.
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