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India's Private-Sector Activity Slows in June

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Business activity across India's private sector slowed in June, with the HSBC India Composite Purchasing Managers' Index (PMI) falling to 57.4 from 59.3 in the previous month, according to preliminary data compiled by S&P Global and released on Tuesday.

The reading remained well above the 50.0 mark that separates expansion from contraction.

The monthly slowdown was driven by cost pressures and softening demand for business' products and services.

The manufacturing PMI, released the same day, fell to 54.5 from 55 the previous month, while the services PMI declined to 57.3 from 59.8 in May.

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