Private sector logs strong July growth, PMI hits 60.7

AMID JOB WORRIES

- ANANT CHANDAK

GROWTH IN INDIA's private sector remained robust in July, supported by strong manufacturing and international demand, but rising inflation and weaker employment generation tempered the expansion, HSBC Flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global showed.

Moderation in overall growth came alongside a drop in business confidence to an over two-year low. Firms expressed concerns over rising price pressures and heightened competition while uncertainty surrounding trade negotiations with the US also likely weighed on sentiment.