Topic
macroeconomic
Business India's Manufacturing Growth Slows to Near 5-Year Low as HSBC PMI Dips to 53.5
India's manufacturing expansion slowed to a near five-year low in July, with the HSBC PMI falling to 53.5 from 54.2. The reading remained above the 50 expansion threshold, supported by resilient export orders and improved supply chains, though hiring and domestic demand moderated.
Business UK Inflation Drops to 2.6% in June as Fuel and Food Prices Ease
UK inflation fell to 2.6% in the year to June 2026, down from 2.8% in May, driven by lower fuel and food prices, according to the Office for National Statistics. The data offers some respite for businesses and consumers, though inflation remains elevated.
Business India's current account deficit likely to widen to 1.5% of GDP in FY27 as higher oil prices weigh: Report
According to a Crisil report, India's current account deficit is expected to widen to 1.5% of GDP in FY27 from 0.6% in FY26, driven by higher crude oil and commodity prices. The forecast follows official trade data showing the merchandise trade deficit widening to $30.4 billion in June. Crude oil prices are expected to average $82-87 per barrel this fiscal.
Business India’s Foreign Reserves Rise by $963 Million to Over $672 Billion, RBI Data Shows
India's foreign exchange reserves rose by $963 million to over $672 billion in the week ended June 19, driven by a $4.1 billion increase in gold reserves, according to Reserve Bank of India data. In contrast, foreign currency assets declined by $3.07 billion, while SDRs and IMF reserve positions also fell.
Business Goldman Sachs raises India GDP growth forecast to 6.8% after US-Iran peace pact
Goldman Sachs raised India's GDP growth forecast for calendar year 2026 to 6.8% from 6.5%, and FY27 growth by 40 basis points to 6.5%, following the US-Iran peace deal. The investment bank cited lower global oil prices, eased supply chain disruptions, and stronger-than-expected first-quarter economic activity as key drivers. It also lowered inflation and current account deficit forecasts.
Business Inflation Starting to Take Toll on Indian Consumers, P&G India CEO Warns of Headwinds
Procter & Gamble India CEO V Kumar said inflation is making consumers more disciplined in spending, projecting short-term headwinds. The company faces a 50% spike in plastic costs due to the West Asia war, and global parent P&G warned of a $1 billion post-tax hit to fiscal 2027 profit. Delayed monsoons add to risks, but the company remains positive on India's medium-term growth.
Business Heavy Selling by Foreign Funds Drives India's Balance of Payments Deficit to $6.6 Billion in April
India's balance of payments recorded a deficit of $6.6 billion in April 2026, reversing a surplus of $0.5 billion a year earlier, driven by a sharp deterioration in the capital account. Foreign portfolio investor outflows widened to $8.7 billion, while the current account moved to a surplus of $4.7 billion, boosted by higher remittances and services exports.