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.
Services activity in India expanded at a rapid pace in April, marking a five-month high. This growth was supported by stronger domestic demand, higher ecommerce activity, and improved new order inflows, according to the HSBC India Services PMI.
The private sector manufacturing activity growth recovered in April as HSBC’s India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, which measures monthly change in manufacturing output, rose to 54.7 in April, up from 53.9 in March.
India’s private sector activity gathered momentum at the start of the new financial year, with the HSBC Flash India Composite PMI Output Index rising to 58.3 in April from 57.0 in March, according to data compiled by S&P Global.
India’s services sector growth slowed to a 14-month low in March, even as cost pressures rose sharply, according to HSBC and S&P Global PMI data. Firms reported the fastest increase in input prices in nearly four years.
The Manufacturing Purchasing Managers’ Index (PMI) spiked to 59.2 in October from 57.7 in September, indicating expansion in the manufacturing activity.
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.
The upcoming week is expected to be crucial for Indian stock markets, with a mix of domestic and global factors likely to influence investor sentiment including key Q1 earnings, PMI data, infrastructure output figures, and developments around the India-US trade deal.
