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India's Private Sector Activity Stays Flat in August

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Business activity across India's private sector expanded in August, with the HSBC India Composite Purchasing Managers' Index (PMI) staying flat at 54.3 from the previous month, according to final/preliminary data compiled by S&P Global and released Thursday.

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

The monthly momentum was in line with the joint-slowest growth rate in four and a half years and was below historical trends, S&P said.

Employment rose the fastest in 14 months as job cuts were offset by growth in service firms.

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