Archive

India wholesale price inflation -1.36% y-o-y (consensus -2.7) in Jul-23

- India's wholesale price inflation in July 2023 showed a smaller decline of 1.36% than anticipated, marking the highest growth rate since April 2023.
- Wholesale fuel and manufacturing prices performed better than expected, experiencing declines of 12.79% and 2.51% respectively, while wholesale food prices rose by 7.75% compared to the previous year.

India industrial production 3.7% y-o-y in Jun-23

- India's industrial production grew by 3.7% year-on-year in June 2023, the lowest growth rate since March 2023 but still outpacing the one-year average by 0.34 percentage points.
- The growth rate in June 2023 was also significantly higher than the long-run average by 0.87 percentage points, indicating a strong performance in Indian industrial production.

India PMI services 62.3 (consensus 58.0) in Jul-23

- India's PMI services index for July 2023 exceeded market expectations, reaching 62.3, indicating strong growth and increased business activity in the sector.
- The PMI services index's deviation of 3.98 points above the one-year average signifies a substantial acceleration in the sector's growth rate, reflecting a positive trajectory for the services industry in India.

India PMI manufacturing 57.7 (consensus 57.0) in Jul-23

- India's PMI manufacturing for July 2023 exceeded expectations, recording a reading of 57.7, indicating a solid expansion in the sector.
- Despite being the lowest level since April 2023, the PMI manufacturing reading remains 1.15 points above the one-year average, suggesting overall strength in the sector.