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PMI Composite up on Service Expansion

INDIA


  • HSBC / S&P Global PMI Composite for August expanded 60.7 versus 60.5 prior
  • New orders softened to 60.9 from 61.2 in July.
  • Employment component declined
  • PMI Services surprised to the upside at 60.9 versus 60.4 prior.
  • The Indian economy continues to expand at a time when some of its neighbours are moderating giving the RBI time to maintain interest rates for now.

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