August 22, 2024 05:08 GMT
PMI Manufacturing moderates.
INDIA
- Indian PMIs remained firmly in expansion territory in July according to today’s data release, albeit with some signs of moderating in manufacturing.
- HSBC India PMI Manufacturing moderated to 57.9 in August from 58.1 in July.
- HSBC India PMI Services expanded 60.4 in August versus 60.3 in July.
- The HSBC India Aug. Flash Composite PMI 60.5 vs 60.7 prior is the lowest reading since May.
- New orders have declined as have employment.
- The numbers are still in highly expansive territory and the moderating will give little concern at this stage to the RBI.
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