The S&P Global India Manufacturing Purchasing Managers’ Index (PMI) eased slightly to 57.7 in July from 57.8 in June, with output levels continuing to expand but at the softest pace in three months.
A reading of over 50 on the index reflects growth in activity levels and July marked the 25th 50-plus print for Indian factories, as per the survey-based PMI.
In a positive sign for India’s flailing merchandise exports, new export orders accelerated in July at a pace that was the fastest since November 2022, with firms reporting increases in fresh orders from customers in the U.S. and neighbouring countries such as Bangladesh and Nepal.
