Mumbai, Aug. 5 -- Latest data from the Institute for Supply Management (ISM) showed the Services PMI edged up to 54.1 in July from 54 in the previous month. Inflation pressures gathered traction, with the Prices Paid Index edging higher to 70.3 from 67.7. Hiring conditions are still soft, with the Employment Index falling to 47.4 from 51.2. ISM Business Activity Index also continued expansion in July as the reading of 59.1 percent is 3.7 percentage points higher than the 55.4 percent recorded in June. July's reading is also 3.5 percentage points above the index's 12-month moving average of 55.6 percent.
Published by HT Digital Content Services with permission from Capital Market....