India’s Aug private sector growth lags China
04/09/2014 16:41
India’s private sector in August 2014 grew at a slower pace than that of its BRICS peer China as manufacturing and services activity softened, dashing some of the euphoria over the outlook for Asia’s third biggest economy after last week’s GDP data showed the fastest growth in two and a half years.
A combined gauge measuring manufacturing and services in India fell to 51.6 in August from 53 in July, with a reading above 50 signaling expansion, Markit Economics reported.
While manufacturing in August cooled from July’s 17-month high figure, India’s services index fell to 50.6 in August from 52.2 in the previous month.
In comparison, the Composite China index, a snapshot of services and manufacturing, rose at a faster pace in August, up to 52.8 from 51.6 in July, driven by a pickup in the services sector.
“Among the largest emerging markets, China posted the fastest growth since March 2013. Output in Russia and India rose at weak rates “, HSBC said.
“Further growth was also recorded in India, albeit with the pace of expansion moderating. However, the renewed growth trend in recent months represents a welcome improvement from the prior downturn”, HSBC added.
The Indian economy grew 5.7 per cent, year on year in Q1 FY 2014-15, up from an annual 4.6 per cent expansion in Q4 FY 2013-14.
04/09/2014 16:41
India’s private sector in August 2014 grew at a slower pace than that of its BRICS peer China as manufacturing and services activity softened, dashing some of the euphoria over the outlook for Asia’s third biggest economy after last week’s GDP data showed the fastest growth in two and a half years.
A combined gauge measuring manufacturing and services in India fell to 51.6 in August from 53 in July, with a reading above 50 signaling expansion, Markit Economics reported.
While manufacturing in August cooled from July’s 17-month high figure, India’s services index fell to 50.6 in August from 52.2 in the previous month.
In comparison, the Composite China index, a snapshot of services and manufacturing, rose at a faster pace in August, up to 52.8 from 51.6 in July, driven by a pickup in the services sector.
“Among the largest emerging markets, China posted the fastest growth since March 2013. Output in Russia and India rose at weak rates “, HSBC said.
“Further growth was also recorded in India, albeit with the pace of expansion moderating. However, the renewed growth trend in recent months represents a welcome improvement from the prior downturn”, HSBC added.
The Indian economy grew 5.7 per cent, year on year in Q1 FY 2014-15, up from an annual 4.6 per cent expansion in Q4 FY 2013-14.
