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Time of India
4 days ago
- Business
- Time of India
Manufacturing PMI climbs to 17-year high of 59.2 in July
New Delhi: India's private sector activity remained strong in July, maintaining a reading above the 60 mark for the second consecutive month, with the manufacturing sector recording its highest level in 17 years, growing faster than services, according to a private survey. The HSBC Flash India Composite Output Index was at 60.7 in July, slightly lower than 61 in June. The Composite Purchasing Managers Index (PMI) is a weighted average of comparable manufacturing and services indices. Explore courses from Top Institutes in Please select course: Select a Course Category MCA Degree Data Analytics Public Policy Finance MBA Management Operations Management Healthcare Digital Marketing Artificial Intelligence Others Design Thinking Cybersecurity Data Science healthcare others Technology Leadership Data Science Product Management Project Management CXO PGDM Skills you'll gain: Programming Proficiency Data Handling & Analysis Cybersecurity Awareness & Skills Artificial Intelligence & Machine Learning Duration: 24 Months Vellore Institute of Technology VIT Master of Computer Applications Starts on Aug 14, 2024 Get Details "India's flash composite PMI remained healthy in July. The strong performance was bolstered by growth in total sales, export orders, and output levels," said Pranjul Bhandari, chief India economist at HSBC. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Is it legal? How to get Internet without paying a subscription? Techno Mag Learn More Manufacturing PMI climbed to 59.2, its highest level in around 17 years, "indicative of a robust improvement in the health of the manufacturing industry", the survey mentioned. Goods producers experienced a faster rise in output compared to service providers. Similarly, regarding output, manufacturers saw a sharper increase in new orders than the service sector, with growth accelerating in the former but easing in the latter. Live Events Overall, sales expanded at their quickest pace in a year. "Indian manufacturers led the way, recording faster rates of expansion than services for all of the three metrics - sales, output and export orders," said Bhandari. International orders surged to their strongest level since the series began, the survey noted, driven by demand from across the world, including Asia, Europe and US. "Growth of new export orders accelerated in the service economy, whilst it slowed among goods producers," it added. However, job creation slowed in July, marking the weakest employment growth in 15 months, with a notable slowdown in the services sector. Meanwhile, inflationary pressures continue to heat up as both input costs and output charges rose in July, said Bhandari. According to the firms surveyed, prices rose in aluminium, cotton, foodstuffs (cooking oil, egg, meat, vegetables), rubber, steel and transportation. Service firms faced a steeper rise in input costs compared to manufacturers. "Charge inflation likewise intensified in July, as private sector companies sought to share additional cost burdens with their clients by lifting selling prices," it added. Business sentiment, meanwhile, dropped to its lowest level since March 2023, though firms remained optimistic about output growth in the next 12 months. "Finally, business confidence fell to its lowest mark since March 2023, while employment growth moderated to its weakest pace in 15 months," said Bhandari.
Economic Times
22-05-2025
- Business
- Economic Times
Private sector activity in May at 13-month high
India's private sector activity soared to a 13-month high in May, reaching 61.2, fueled by a rapid expansion in the services sector. The Composite PMI reflects strong economic performance, driven by buoyant demand and investment. Despite some firms citing price pressures and geopolitical tensions, new orders and exports experienced robust growth. Tired of too many ads? Remove Ads India's private sector activity surged to a 13-month high of 61.2 in May from 59.7 in April, driven by an acceleration in services, according to a private survey released on HSBC Flash India Composite Output Index was 60.5 in May 2024. The Composite Purchasing Managers Index (PMI) is a weighted average of comparable manufacturing and services indices. "India's flash PMI indicates another month of strong economic performance," said Pranjul Bhandari, chief India economist at increase in service sector output was the fastest in 14 months, while the manufacturing sector recorded the slowest increase in three months. Survey respondents attributed growth at the composite level to buoyant demand, investment in technology and expanded capacities. However, some firms noted that price pressures, competition and the India-Pakistan conflict negatively impacted April 2, the US announced reciprocal tariffs on various countries, imposing a 26% tariff on Indian imports. While US announced a 90-day pause until July 9, a baseline tariff of 10% remains in manufacturing sector was negatively hit across Asia due to trade uncertainties, domestic-oriented economies like India were outliers. New orders also picked up, with support from international demand. The private sector recorded the fastest increase in exports in a year, said the survey."Growth in production and new orders among manufacturing firms remains robust, despite a marginal cooling from the rates of increase observed in April," said Bhandari.
Time of India
22-05-2025
- Business
- Time of India
Private sector activity in May at 13-month high
India's private sector activity surged to a 13-month high of 61.2 in May from 59.7 in April, driven by an acceleration in services, according to a private survey released on Thursday. The HSBC Flash India Composite Output Index was 60.5 in May 2024. The Composite Purchasing Managers Index (PMI) is a weighted average of comparable manufacturing and services indices. "India's flash PMI indicates another month of strong economic performance," said Pranjul Bhandari, chief India economist at HSBC. The increase in service sector output was the fastest in 14 months, while the manufacturing sector recorded the slowest increase in three months. Survey respondents attributed growth at the composite level to buoyant demand, investment in technology and expanded capacities. However, some firms noted that price pressures, competition and the India-Pakistan conflict negatively impacted operations. 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 Villas For Sale in Dubai Might Surprise You Villas In Dubai | Search Ads Get Rates On April 2, the US announced reciprocal tariffs on various countries, imposing a 26% tariff on Indian imports. While US announced a 90-day pause until July 9, a baseline tariff of 10% remains in effect. While manufacturing sector was negatively hit across Asia due to trade uncertainties, domestic-oriented economies like India were outliers. New orders also picked up, with support from international demand. The private sector recorded the fastest increase in exports in a year, said the survey. Live Events "Growth in production and new orders among manufacturing firms remains robust, despite a marginal cooling from the rates of increase observed in April," said Bhandari.
Economic Times
23-04-2025
- Business
- Economic Times
April private sector activity at 8-month high
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: India's private sector activity surged to an eight-month high of 60 in April, driven by a sharp increase in new export orders , according to a private survey released HSBC Flash India Composite Output Index was 59.5 in March 2025 and 61.5 in April Composite Purchasing Managers Index (PMI) is a weighted average of comparable manufacturing and services indices "New export orders accelerated sharply, likely buoyed by the 90-day pause in the implementation of tariffs," said Pranjul Bhandari, chief India economist at April 2, the US announced reciprocal tariffs across various countries, imposing a 26% rate on Indian imports. However, a 90-day pause was announced until July 9, although the new baseline tariff of 10% remained in effect."As a result, output and employment grew, for both, manufacturers and service providers," said orders grew at their fastest pace since September start of FY26 was marked by a sharp rise in new business intakes, buoyed by international demand for goods and to the survey, private sector companies noted gains in export orders from Africa, Asia, Europe, the Middle East and the Americas. Companies cited efficiency improvements, strong demand and successful advertising campaigns as key reasons for rise in also noted an improvement in international competitiveness due to rupee's depreciation against the US dollar, it rate of expansion was stronger for goods producers than service providers, marking the sharpest growth in over 15 years. Manufacturing PMI increased to 58.4 in April from 58.1 in March. Services PMI rose to 59.1 from 58.5 in the same growth in April was the fastest since August 2024, with manufacturers experiencing a steeper rise in new businesses than service providers, the survey on anecdotal evidence, the survey said, full and part-time staff were hired in April, with job creation evenly spread across both sectors."Cost inflation was in line with March levels, but prices charged rose a tad faster, leading to improved margins," said costs rose due to higher chemical, freight, labour, leather, rubber and steel costs, according to the survey respondents. Service providers noted a quicker increase in expenses than manufacturers. Despite the upbeat data, business sentiment was at its weakest for eight months, as an improvement among manufacturers contrasted with fading optimism at service firms.
Time of India
23-04-2025
- Business
- Time of India
April private sector activity at 8-month high
New Delhi: India's private sector activity surged to an eight-month high of 60 in April, driven by a sharp increase in new export orders , according to a private survey released Wednesday. The HSBC Flash India Composite Output Index was 59.5 in March 2025 and 61.5 in April 2024. The Composite Purchasing Managers Index (PMI) is a weighted average of comparable manufacturing and services indices . by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Car Novels Undo "New export orders accelerated sharply, likely buoyed by the 90-day pause in the implementation of tariffs," said Pranjul Bhandari, chief India economist at HSBC. Live Events On April 2, the US announced reciprocal tariffs across various countries, imposing a 26% rate on Indian imports. However, a 90-day pause was announced until July 9, although the new baseline tariff of 10% remained in effect. "As a result, output and employment grew, for both, manufacturers and service providers," said Bhandari. Export orders grew at their fastest pace since September 2014. The start of FY26 was marked by a sharp rise in new business intakes, buoyed by international demand for goods and services. According to the survey, private sector companies noted gains in export orders from Africa, Asia, Europe, the Middle East and the Americas. Companies cited efficiency improvements, strong demand and successful advertising campaigns as key reasons for rise in output. Some also noted an improvement in international competitiveness due to rupee's depreciation against the US dollar, it added. The rate of expansion was stronger for goods producers than service providers, marking the sharpest growth in over 15 years. Manufacturing PMI increased to 58.4 in April from 58.1 in March. Services PMI rose to 59.1 from 58.5 in the same period. Sales growth in April was the fastest since August 2024, with manufacturers experiencing a steeper rise in new businesses than service providers, the survey noted. Based on anecdotal evidence, the survey said, full and part-time staff were hired in April, with job creation evenly spread across both sectors. "Cost inflation was in line with March levels, but prices charged rose a tad faster, leading to improved margins," said Bhandari. Input costs rose due to higher chemical, freight, labour, leather, rubber and steel costs, according to the survey respondents. Service providers noted a quicker increase in expenses than manufacturers. Despite the upbeat data, business sentiment was at its weakest for eight months, as an improvement among manufacturers contrasted with fading optimism at service firms.
