According to a survey data, despite slight support from increased export orders and employment expansion, a sharp cooling in the service sector dragged down the overall economy, and the rate of expansion of private sector economic activity in India hit a new low in more than four years in July. The HSBC India Composite Purchasing Managers' Index compiled by S&P Global recorded 54.3 in July, down from 57.1 in June; previously, survey analysts' median expectations rose to 57.7, and the actual data contradicted market expectations. However, the index is still above the 50 boom-bust dividing line, which indicates that the economy continues to expand. Export orders performed well, and the growth rate of overseas orders hit a new high since March.

According to a survey data, despite slight support from increased export orders and employment expansion, a sharp cooling in the service sector dragged down the overall economy, and the rate of expansion of private sector economic activity in India hit a new low in more than four years in July. The HSBC India Composite Purchasing Managers' Index compiled by S&P Global recorded 54.3 in July, down from 57.1 in June; previously, survey analysts' median expectations rose to 57.7, and the actual data contradicted market expectations. However, the index is still above the 50 boom-bust dividing line, which indicates that the economy continues to expand. Export orders performed well, and the growth rate of overseas orders hit a new high since March.