India, July 24 -- India's private sector activity expanded at the slowest pace in nearly four-and-a-half years in July amid intensifying inflationary pressures and challenging market conditions, flash survey results from S&P Global showed on Friday.
The HSBC flash composite output index dropped to 54.3 in July from 57.1 in June. However, a score above 50 indicates expansion in the sector.
The slowdown in growth was attributed to more challenging market conditions, competitive pressures, order cancellations, reduced client inquiries, and shortages of key raw materials, the survey revealed.
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