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India's business activity soars to 3-month high in July
The increase in output in July was driven by continued growth in manufacturing sector activity
The increase in output in July was driven by continued growth in manufacturing sector activity
Companies witnessed reduced working hours in May amid an intensive heatwave in India that sent temperatures soaring to record highs.
During the month under review, input costs rose at the second-slowest rate in nearly three-and-a-half years and charge inflation softened to a nine-month low.
According to S&P Global, a key feature of the latest results was a substantial easing of price pressures.
The first trading day of December month started on a strong note, with the Sensex and Nifty rising nearly 0.8% to touch their fresh lifetime highs.
The latest PMI reading remains above its long-run average of 53.9.
New orders, the largest sub-component of the PMI, rose at a softer pace in September.
The growth in new export business picked up to the fastest in nine months, since November last year
Positive demand dynamics and greater labour costs pushed charge inflation to a 13-month high.
S&P Global India Manufacturing Purchasing Managers' Index (PMI) rose from 57.2 in April to 58.7 in May