54.5 and Expanding: Factory Growth Cools From Its Peak, Not Its Trend

Blitz India Business India’s HSBC Manufacturing PMI eased to 54.5 in June, a three-month low, from 55.0 in May — a step down from a high, not a step into contraction. Any reading above 50 signals expansion, and factory activity has now grown for a long, unbroken run. The moderation is in the mix. New…