India’s private sector growth edges up in August on services

India's private sector output grew marginally in August, recovering from a 52-month low in July, according to flash PMI data released today. The HSBC Flash India Composite PMI Output Index increased to 54.6 in August from 54.3 in July, marking the second-weakest reading since March 2022. Services sector business activity improved, climbing to 54.5 from 53.3 in July, while manufacturing output declined to 54.9 from 56.4, the slowest rise in factory production in five years.

The HSBC Flash India Manufacturing PMI fell to 52.9 in August from 53.5 in July, marking the third consecutive monthly decline and the weakest improvement in overall factory conditions in over five years.

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