India’s private sector growth improved in June on stronger manufacturing output, while growth of services activity eased, survey figures from Markit Economics showed Tuesday.
The Nikkei composite Purchasing Managers’ Index, rose to 51.1 in June from 50.9 in the previous month. Any reading above 50 indicates expansion in the sector.
At the same time, the Services Business Activity Index fell to 50.3 in June from 51.0 in May.
New orders received by the Indian service sector grew at the slowest pace in eleven months. In contrast, manufacturing order books increased at the quickest pace since March.
Indian service providers raised their staffing levels in June, though only marginally. Factory employment was broadly unchanged on the month.
On the price front, input prices at services firms climbed for the ninth consecutive month in June, led by higher petrol and vegetable prices. Cost burdens among manufacturers rose at the slowest pace since March.
The material has been provided by InstaForex Company – www.instaforex.com