India’s consumer-demand momentum slowed sharply in July, PMI data show
India’s private-sector growth decelerated in July as domestic demand, new orders and hiring softened. Consumer-goods manufacturers saw notable slowing, while services posted their weakest expansion since February 2022; export demand improved and input-cost inflation eased.
India’s July PMI data showed broad slowing in services and manufacturing as domestic demand, new orders and hiring weakened. Consumer-goods producers saw notable deceleration, while export demand improved and input-cost inflation eased, though firms continued raising prices.
Why this matters
No prior related HSBC India PMI signals are available. July establishes a softer consumer-demand baseline, with slower consumer-goods growth and the weakest services expansion since February 2022.
The retail-company theme is accelerating (+107957% QoQ).