India PMI


India: Manufacturing reaches 17-month high, but Services PMI edges down in July

August 5, 2014

The Markit manufacturing Purchasing Managers’ Index (PMI) increased from 51.5 in June to 53.0 in July. July’s reading represents the highest level since February 2013. The PMI index is now even further above the 50-threshold that separates expansion from contraction in business conditions in the manufacturing sector.

According to Markit, July’s print reflected that companies scaled-up production in response to strong domestic demand. However, Markit added that, “inflation continued to emerge, especially on the supply-side.”

The services PMI decreased in July, from 54.4 in June to 52.2. Despite July’s drop, the index remains above the 50-threshold. According to Markit, July’s print is, “indicative of a solid expansion in private sector activity.”

FocusEconomics Consensus Forecast panelists see fixed investment rising 3.6% in 2014, which is down 0.1 percentage points from last month’s estimate. For 2015, the panel expects fixed investment to increase 5.8%.


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India PMI Chart

India PMI July 2014

Note: HSBC India Purchasing Managers’ Index (PMI). A reading above 50 indicates an expansion in business activity while a value below 50 points to a contraction.
Source: HSBC and Markit.

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