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The story the latest data will tell the Monetary Policy Committee

The PMI data for July show a sharp rate of expansion of the Indian economy, albeit with some loss of momentum

August 03, 2022 / 12:41 PM IST
The story the latest data will tell the Monetary Policy Committee

Reserve Bank of India (RBI) Governor Shaktikanta Das (File image)

What is the latest data the Monetary Policy Committee will weigh at its ongoing meeting, before taking a decision on interest rates on Friday? The Composite Purchasing Managers Index (PMI) for July came in at 56.6, indicating strong expansion from the previous month, although the pace of expansion in the services sector has slackened. The Composite PMI provides a snapshot of private sector activity in both manufacturing and services. A reading above 50 signifies expansion from the previous month. The...

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