India's private sector: PMI surges to a 14-month high of 61.0; strong demand lifted activity in June
India's private sector activity showed strong momentum in June, reaching its fastest pace in over a year, as firms ramped up production to meet booming domestic and international demand.
These figures marked nearly four straight years of growth, fresh survey data released on Monday.
The HSBC Flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, jumped to a 14-month high of 61.0 from May's 59.3.
Both manufacturing and services saw strong gains. The services activity index rose to 60.7 from 58.8, its strongest reading since August 2023, while the manufacturing PMI climbed to 58.4 from 57.6, driven by strong output and a spike in new orders.
'New export orders continued to fuel private sector business activity, especially in manufacturing,' Pranjul Bhandari, chief India economist at HSBC, told Reuters.
Export demand was a standout, with new international business growing at the fastest pace since the survey began tracking such data in September 2014. Manufacturers led this surge, outpacing the more moderate growth seen by service providers.
Hiring activity also saw a notable uptick.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
AVIK 4 BHK Floors - Golf Course Road Extn, Gurgaon
Birla Navya AVIK
Click Here
Undo
Manufacturers reported their strongest employment growth since records began over 20 years ago, while service sector hiring remained solid, though slightly slower than in May.
'The combination of robust global demand and rising backlogs prompted manufacturers to increase hiring,' Bhandari said.
Price pressures offered some relief as input cost inflation eased to a 10-month low, enabling companies to hold back on passing costs to customers.
As a result, output price rises moderated after hitting a six-month high in May.
May's figures showed consumer prices at a six-year low, which may give the Reserve Bank of India more room to support growth and consider cutting interest rates, especially in light of global trade uncertainties.
Despite the upbeat data, overall business confidence dipped to its lowest level in over two years. Manufacturers showed slightly improved sentiment, but service firms expressed caution about the year ahead.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
33 minutes ago
- Time of India
Nancy Pelosi outperforms major hedge funds with jaw-dropping gains in 2024, leaves Wall Street pros in the dust
Nancy Pelosi, Rep. Nancy Pelosi (D-California), and her spouse, Paul Pelosi, have been making some quiet waves on Wall Street and have accumulated investment gains that outperform every large hedge fund and the S&P 500, as per a report. Nancy Pelosi and Husband's Net Worth New financial filings disclose that the pair's net value rose to about $413 million in 22024 from $370 million in 2023, as per the New York Post. While legislators are required to disclose only net worth ranges, a market research company such as Quiver Quantitative estimated that the Pelosi portfolio is at about $257 million based on daily stock values it tracks, which is a $26 million jump from 2023, according to the report. Diverse Business Ventures Add to Fortune However, the couple's net worth would be much higher than that because of their other ventures, which include but are not limited to a Napa Valley winery, ownership in a political data and consulting firm and a stake in a Bay area Italian restaurant, reported the New York Post. ALSO READ: US bombs Iran: Tehran sends chilling coffins message to Trump as fears of World War III rises Live Events Smart Trading Strategy in Paul Pelosi's Name But a massive portion of their fortune has come from a sizable stock portfolio and timely trades, all done in Paul Pelosi's name, as per the report. Bloomberg reported that the couple's investment portfolio has gained an estimated 54% return in 2024, which is more than double the S&P 500's 25% gain, and also beating every large hedge fund. A spokesperson told, 'Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions,' quoted the New York Post. Early 2025 Moves Signal More Gains The couple also started off 2025 with a good start as they bought call options in January for the then-little-known artificial intelligence health firm, Tempus AI, which has since inked a $200 million deal with AstraZeneca and doubled its stock price, reported New York Post. Nancy and Paul also took out call options for energy company Vistra, whose stock rose last month after it announced a $1.9 billion deal to acquire natural gas facilities across the country from a private equity firm, as per the report. FAQs How much did Nancy and Paul Pelosi make in 2024? They added between $7.8 million and $42.5 million to their net worth last year, as per New York Post. Is Nancy Pelosi directly involved in these trades? No, a spokesperson says she doesn't own stocks or participate in trading, and most activity is in Paul Pelosi's name, as per the report.
Time of India
35 minutes ago
- Time of India
Nightlife getaway at Palayam-Ayyankali Hall to open
1 2 3 4 T'puram: The vibrant stretch between Palayam and Mahatma Ayyankali Hall is all set to be transformed into a premier nightlife hub, as part of the Smart City Thiruvananthapuram Ltd (SCTL) initiative. The infrastructure upgrade, valued at approximately Rs 2 crore, is scheduled to begin in Aug, by adding parklets, smart lighting, accessibility features and cultural spaces. The project includes interactive lighting installations designed to create a dynamic evening ambience while parklets will provide greenery and seating. Accessibility was a priority, with ramps, tactile indicators and signage ensuring an inclusive experience. "The work has reached the final stage and we can open it in Aug itself. In addition to basic amenities, we integrated disability-friendly features at every stage," said a senior SCTL official. "By combining parklets, smart lights and performance spaces, we aim to make this stretch a cultural heartbeat after sundown," he said. The smart amenities include EV charging stations, modern public toilets and automated vending kiosks. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Articles Vally Undo LED interactive floor tiles, bicycle points, bollard lighting, planter boxes, wheelchair-accessible provisions, cobblestone flooring with casual seating, signage and landscaping works are also included. Utility cables were rerouted underground to avoid the common visual clutter seen commonly across older urban corridors and to create a clean skyline. Roads were relaid and energy-efficient LED street lamps were installed for safer nights. A new performance stage and open-air area will host music, street theatre and community events, blending tradition with modern urban beat. The Palayam-Ayyankali road is already being recognised as the city's second "nightlife hotspot" after Manaveeyam Veedhi. These upgrades echo a larger push by SCTL: Renovating 24 key stretches across the city with smart road infrastructure. These include dedicated pedestrian walkways, cycling lanes, underground utility ducts and modern drainage — parts of which were highlighted during the chief minister's inauguration of the smart roads project last month. SCTL officials said the Palayam-Ayyankali hub exemplifies the city's charm of retaining cultural richness while embracing modern amenity standards.
Time of India
39 minutes ago
- Time of India
Aditya Birla Lifestyle aims to double revenues in 5 years, invest Rs 300 cr per annum
The newly-listed Aditya Birla Lifestyle Brands (ABLBL) on Monday said it will invest Rs 300 crore every year with an aim to double its revenue in the next five years. The Aditya Birla Group company, which was demerged from Aditya Birla Fashion and Retail, will invest around Rs 300 crore per year, its managing director Ashish Dikshit told reporters here. Group chairman Kumar Mangalam Birla said, "India stands at the cusp of a transformative growth phase, with consumption poised to be a primary driver." Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Cost of Dental Implants in Your City Might Surprise You! Dental implant | Search Ads Learn More Undo ABLBL had a revenue of Rs 7,830 crore in FY25, an operating profit margin of 15 per cent and a net profit of Rs 60 crore. Kumar Mangalam Birla said the company aspires to build India's first portfolio of billion-dollar brands in the fashion and lifestyle segment . It sells brands like Peter England, Allen Solly, Van Heusen and Louis Philippe. Live Events Dikshit said two of the company's brands clock sales of over Rs 2,000 crore per year, while two others are above Rs 1,000 crore per year. "Over the next five years, we aim to more than double our scale and more than triple our cash profits. This growth will be strategic, disciplined and powered by strong cash flows," he said, adding that it targets to double in revenues as well. Dikshit said the last two years have been difficult for the industry, adding it was cyclic and the company has seen many such turns in the last 25 years of its existence. On the investments front, he said the company has a capex plan of Rs 300 crore per year. "A large part of it is going through the expansion of the retail network, a small part towards the internal capabilities and technology," Dikshit said. It is aiming for a three-fold jump in the profitability over the next 3-5 year period, he said. The company does not have any immediate plans for acquisitions at present, Dikshit said, pointing out that the Reebok brand and Van Heusen's innerwear can be major growth drivers going ahead. Shares of Aditya Birla Lifestyle Brands Ltd (ABLBL) made its market debut on Monday post demerger. The stock started trading at Rs 167.75 and later jumped 4.97 per cent to Rs 176.10 apiece during the day on the BSE. It finally ended at Rs 159.40, down 4.97 per cent. The company's market valuation stood at Rs 19,451.50 crore.
