BENGALURU, June 23 (Reuters) – India’s private sector expanded at its slowest pace in three months in June as weaker demand \u200cgrowth weighed on both factory and services activity, while \u200cbusiness confidence slipped to its lowest level since January, a survey showed.<\/p>\n
\u2022 HSBC’s flash \u200bIndia Composite Purchasing Managers’ Index (PMI), compiled by S&P Global, fell to 57.4 this month from May’s 59.3. A PMI reading above 50.0 indicates expansion in activity.<\/p>\n
\u2022 Overall new orders, a key gauge of demand, rose at \u200ctheir slowest pace since \u2060March with firms citing competitive pressures and gas shortages as obstacles to securing business.<\/p>\n
\u2022 On the export front, \u2060the picture was mixed as services companies saw slightly faster international sales growth but manufacturers recorded their weakest rise in new export orders since \u200bMarch 2023.<\/p>\n
\u2022 \u200bThe services PMI fell to \u200ba 17-month low of 57.3 \u200cfrom 59.8 while the manufacturing PMI slipped to a three-month low of 54.5 in June from 55.0 last month.<\/p>\n
\u2022 The moderation in demand curbed job creation. Employment across the private sector rose only marginally in June – the weakest gain in the current six-month run of \u200cexpansion – with hiring at both factories and \u200bservice providers at their lowest since December.<\/p>\n
\u2022 \u200bCost pressures eased for \u200ba third straight month, dropping to their lowest level \u200csince January. Selling price inflation \u200balso cooled, with overall \u200bcharges rising at the weakest pace in six months as some firms refrained from passing on increases amid challenging demand \u200bconditions.<\/p>\n
\u2022 Business confidence slipped \u200cbelow its long-run average in June with sentiment at goods \u200bproducers dropping to its weakest in nearly four years.<\/p>\n
(Reporting \u200bby Anant ChandakEditing by Shri Navaratnam)<\/p>\n","protected":false},"excerpt":{"rendered":"BENGALURU, June 23 (Reuters) – India’s private sector expanded at its slowest pace in three months in June…\n","protected":false},"author":2,"featured_media":506744,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,44324,184,85,46,1261,44184,232904],"class_list":["post-506743","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-business-confidence","tag-economy","tag-il","tag-israel","tag-month","tag-private-sector","tag-weaker-demand-growth"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/506743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=506743"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/506743\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/506744"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=506743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=506743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=506743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}