India's overall PMI rises to peak for the first time in 3 months

The HSBC Flash India Composite PMI for 2024/7 was 61.4, up from 60.9 in June, showing a high level since April.

This is because production growth accelerated along with a further rise in factory activity and an acceleration in the service sector.

Also, new orders were strong, and the rate of increase was the fastest in the past 3 months.

Furthermore, overseas sales recorded the second pace of increase in the past.

The number of employed people recorded the highest rate of increase since the survey began, and the backlog of orders further increased.

Looking at the inflation rate, input costs accelerated and were almost in line with the long-term average.

Meanwhile, sales prices have increased since 2013/2.

Finally, sentiment strengthened above a series of averages, fueled by increased advertising, strong demand, and inquiries from new customers.

Source: S&P Global