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Informist, Friday, Jul. 24, 2026

 

--India July flash composite PMI output index 54.3 vs 57.1 June final

--India July flash services PMI activity index 53.1 vs 57.4 June final

--India July flash manufacturing PMI 53.9 vs 54.2 in June final

--S&P: Flash data showed HSBC India PMI of 54.3 Jul lowest since Mar 2022

 

NEW DELHI – Growth in India's private sector activity continued to moderate in July, registering the weakest pace of expansion since March 2022 amid renewed geopolitical tensions in West Asia, S&P Global said Friday. Growth in the sector was stymied by increasingly challenging market conditions, competitive pressures, order cancellations, reduced client enquiries, and shortage of key raw materials, S&P Global, which compiles the PMI, said in a release.

 

The HSBC Flash Composite Purchasing Managers' Index eased to 54.3 in July from 57.1 in June. A PMI reading of more than 50 denotes expansion in activity from the previous month, while a print below 50 indicates contraction. At the composite level, the latest upturn in international sales was the most pronounced since March, S&P Global said.

 

Growth in India's private services sector activity moderated in July amid a slowdown in growth in new orders and output. The HSBC Flash Services Purchasing Managers' Index fell to 53.1 in July from 57.4 in June. The pace of expansion, which rose at the beginning of the second fiscal quarter, receded to the weakest in nearly four and a half years, S&P Global said. "The moderation in growth of both new orders and output was centred on India's service economy, where rates of expansion retreated substantially from June to the weakest in 53 months."

 

The flash manufacturing PMI fell to 53.9 in July from 54.2 in June. The flash figures signalled a below-trend improvement in overall factory conditions, S&P Global said.

 

Survey participants revealed that rates of inflation accelerated in both manufacturing and services sectors due to factors such as fuel, labour, materials and transportation. The aggregate rate of increase in output prices was the fastest seen since April. The ongoing cost rises have led to an upturn in manufacturers' and service providers' fees, S&P Global said.

 

"Price pressures firmed, with output charge inflation gathering pace and signalling a renewed push to protect margins," Pranjul Bhandari, chief India economist at HSBC, said in the release. Meanwhile, both sectors witnessed accelerating growth in exports.

 

Private sector employment continued to rise for the seventh consecutive month, though the pace of job creation was modest, S&P Global said. Among the two sectors, services providers hired more people, outperforming manufacturers on this front.

 

Business confidence among the participants retreated to a six-month low in July. Having said that, those surveyed are hoping for better market conditions and stronger underlying demand in the next 12 months, S&P Global said.  End

 

Reported by Shweta

Edited by Avishek Dutta

 

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