India HSBC Composite PMI Dips to 57.1 in June, Misses Estimates
India's HSBC Composite PMI was revised down to 57.1 in June from 57.4, missing market expectations. The data may weigh on the Indian Rupee.
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The final reading of India's HSBC Composite Purchasing Managers Index (PMI) came in at 57.1 for June, down from the previous 57.4 and below market estimates. The data, published by S&P Global and HSBC Bank, reflects a slight cooling in private sector activity but remains firmly in expansion territory.
For the Indian Rupee, a lower-than-expected PMI could reduce near-term bullish momentum. However, the reading still indicates solid growth. Market participants will watch for further economic releases to assess the RBI's policy outlook.
Source: FXStreet Forex News