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Chart of the Day | PMI: Private sector activity slips in July, third month in a row

Business sentiment in both manufacturing and services was subdued, in marked contrast to euphoria in equity markets 

August 04, 2021 / 12:25 PM IST
Chart of the Day | PMI: Private sector activity slips in July, third month in a row

As the RBI’s Monetary Policy Committee (MPC) hunkers down to debate the pros and cons of supporting growth versus curbing inflation, the Composite Purchasing Managers’ Index (PMI) for July provides the latest snapshot of economic activity. The Composite PMI for July came in at 49.2, compared to 43.1 in June. That indicates private sector activity shrank a bit in July from the preceding month, although the pace of contraction was marginal. In other words, the economy is getting better,...

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