Industry Odisha Bureau, Jul 25: Basing on the data reportedly gathered between July 8 and July 21 during the ongoing year, the HSBC Flash India PMI has reportedly stated that India’s private sector growth slowed to its weakest in over four years in July driven by a decline in services activity, while the inflationary pressures intensified.
As per media reports, “The HSBC Flash India Composite PMI Output Index fell to 54.3 in July from 57.1 in June, marking the slowest expansion in private sector activity since March 2022. While the index remained above the 50-mark separating expansion from contraction, it pointed to a significant loss of momentum at the start of the second quarter of fiscal year 2026-27 (FY27).”
Media reports citing the findings of the survey added that, “Despite an increase in new export orders as well as continued hiring by the companies, the weakest growth in private sector sales and output since early 2022 has been discovered since growth got affected by challenging market conditions, competitive pressures, order cancellations, reduced client enquiries, and shortages of key raw materials. On the contrary, manufacturing firms outperformed services in export growth with international sales recording the strongest increase since March.”
Media reports citing the findings of the survey further said that, “Faster increases in both input costs and output charges across manufacturing and services, price pressures got strengthened in July. While stocks of finished goods recovered after declining in June, manufacturers also increased purchases and input inventories.”
The HSBC Flash India PMI survey also reportedly stated that, “Business confidence slipped to a six-month low, with optimism improving in manufacturing but weakening in services.”
