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INDIA: PMI’s – Still Expanding.

INDIA
IndiaGlobalEM BulletBulletAPACEmerging Market NewsRegion

 

  • HSBC India PMI Manufacturing came in a 56.7 versus 57.5 in August.
  • HSBC India PMI Services came in a 58.9 versus 60.9 in August.
  • PMI Composite 59.3 versus 60.7.
  • Whilst PMI’s are moderating, the pace is very slow and remain well in expansion territory.
  • The question now resides with the growth ambitions of the new government.  Whilst India growth is on track to outperform its neighbours, is a moderate slowdown of activity enough for the RBI to cut rates.
  • With new MPC members, next month’s rate decision remains difficult to judge given no knowledge of the new members bias.
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  • HSBC India PMI Manufacturing came in a 56.7 versus 57.5 in August.
  • HSBC India PMI Services came in a 58.9 versus 60.9 in August.
  • PMI Composite 59.3 versus 60.7.
  • Whilst PMI’s are moderating, the pace is very slow and remain well in expansion territory.
  • The question now resides with the growth ambitions of the new government.  Whilst India growth is on track to outperform its neighbours, is a moderate slowdown of activity enough for the RBI to cut rates.
  • With new MPC members, next month’s rate decision remains difficult to judge given no knowledge of the new members bias.