India private sector registers growth

India’s private sector activity saw a slight improvement in August, with the HSBC Flash India PMI Composite Output Index rising to 54.6 from July's low of 54.3. While this marked an increase, it was still the second-weakest reading since March 2022, indicating low overall demand. Services led the improvement, with business activity and new orders rebounding after July's lows. However, manufacturing growth declined, with the Manufacturing PMI dropping for the third month to 52.9, the lowest in five years. New orders and export orders saw a moderate increase, backed by demand from the US, Germany, China, Singapore, and Japan. Employment rose significantly, particularly in services, while manufacturing jobs fell. Input cost inflation decreased, but selling price inflation increased. Business confidence improved, as companies anticipated better market conditions ahead.