India PMI July 2022

India: Composite PMI deteriorates in July but continues to point to expansion

The S&P Global Composite Purchasing Managers’ Index (PMI) came in at 56.6 in July, down from June’s 58.2. As a result, the index stayed above the 50-threshold, indicating an expansion in business activity from the previous month.

The Manufacturing PMI clocked in at 56.4 in July, up from June’s 53.9, amid stronger demand, improvements in supplier performance and a slowdown in both input and output inflation. Lastly, the Services PMI fell to 55.5 in July (June: 59.2). The sector lost momentum due to competitive pressures, unfavorable weather and elevated inflation.

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