India Private Sector Continues To Expand

(RTTNews) - India's private sector continued to expand in July but the pace of growth moderated slightly, flash survey results from S&P Global showed on Thursday. The HSBC flash composite output index posted 60.7 in July, down from 61.0 in June. However, the index remained well above its long-run average of 54.8.

Manufacturers registered a faster growth in output than service providers. Private sector companies received higher volume of international orders. There was a softer upturn in services activity. The services Purchasing Managers' Index dropped to 59.8 in July from 60.4 in the previous month. Meanwhile, the factory PMI rose to 59.2 from 58.4 a month ago.

There were sharper expansions in total sales, export orders and output levels. Although business confidence remained positive, it reached the lowest in close to two-and-a-half years. Job creation eased to the weakest in 15 months. On the price front, there were faster increases in both input costs and output charges.