India’s Purchasing Managers’ Index (PMI) released by HSBC/Markit, for August 2014, shows a small dip in growth to 51.6 from the 53 in July.
However it does remain above 50 (which means it’s expanding) so there’s less to worry about.
The Manufacturing part the PMI went from 53 in July to 52.4, a modest decline. The other component, the Service part of the PMI went from 52.2 down to 50.6. While this continues to expand the expansion is at a lower rate.
The best news is that inflation does seem to be moderating, says HSBC/Markit.