India’s private sector activity continues to expand; PMI eases to 58.1
India’s private sector activity continued to expand in May, signalling sustained but marginally softer growth momentum.
India’s private sector activity continued to expand in May, signalling sustained but marginally softer growth momentum.
India’s manufacturing sector slowed in March as growth in activity moderated due to rising costs, competitive pressures and global uncertainty, according to the HSBC India Manufacturing PMI report.
Proceeds from the facility will be used for general banking and corporate purposes, according to the statement.
Despite the decline, the index remained well above the 50 threshold that separates growth from contraction, indicating that overall operating conditions in the sector stayed positive.
The HSBC Flash India Composite Output Index fell to 58.9 in December from 59.7 in November, growing at its slowest pace since February, said data released by S&P Global on Tuesday.
The combined performance of India’s manufacturing and services sectors reported a slower rate of expansion as the HSBC Flash India Composite Output Index fell to 59.9 in November from 60.4 in October.
The private sector economy recorded its fastest growth with the headline HSBC Flash India Composite PMI Output Index rising over four points to 65.2 from 61.1 in July, data by S&P Global said.
The services sector continued to expand in July, although employment growth slowed to its weakest pace in 15 months, the HSBC India Services PMI said on Tuesday.
Primarily fuelled by strong manufacturing performance and international demand, India's private sector showed robust growth in July.
For the Indian stock market, the upcoming week, from May 19 to 23, is expected to be driven by key global economic data releases and the continued positive impact of easing geopolitical tensions between India and Pakistan.
