Latest news with #FlashIndiaPMI
Hans India
23-05-2025
- Business
- Hans India
Composite PMI rises to 13-mth high in May
New Delhi: The HSBC Flash India Composite Output Index – which measures the month-on-month change in the combined output of India's manufacturing and service sectors – on Thursday reported robust business activity in May in the country, climbing to a 13-month high of 61.2, compared with 59.7 in the previous month. At 61.2 in May, the HSBC Index showcased a sharp rate of expansion in private sector activity. 'The increase was the most pronounced since April 2024. There was a mild loss of growth momentum in the manufacturing industry but service providers reported the fastest rise in output in 14 months,' according to a HSBC Flash India PMI note. The HSBC Flash India Manufacturing PMI was little changed from April's reading of 58.2. At 58.3 in May, the latest figure was consistent with a sharp improvement in the health of the sector growth in India moved up a gear during May, boosted by an acceleration in the service economy. Strong influxes of new business, both from domestic and international markets, induced quicker expansions in business activity and employment. There was also an improvement in business confidence for the first time since January, said the HSBC. 'India's flash PMI indicates another month of strong economic performance. Growth in production and new orders among manufacturing firms remains robust, despite a marginal cooling from the rates of increase observed in April,' said Pranjul Bhandari, Chief India Economist at HSBC.
Mint
22-05-2025
- Business
- Mint
India's private sector growth accelerates in May, led by services: HSBC Flash PMI
New Delhi: India's private sector gained momentum in May, led by a sharp acceleration in services activity, as strong demand from both domestic and international markets drove business expansion and hiring, according to the HSBC Flash India PMI survey released Thursday. Compiled by S&P Global, the survey also signalled a revival in business confidence, the first uptick since January. The HSBC Flash India Composite Output Index, which captures activity across both manufacturing and services, is estimated to have risen to 61.2 in May from 59.7 in April, indicating robust expansion. A reading above 50 denotes growth, and the index has now remained in expansion territory for over three years. 'The increase was the most pronounced since April 2024,' the report said. While manufacturing showed a slight slowdown in growth, the services sector posted its fastest output rise in 14 months, the survey noted. Based on responses from roughly 400 manufacturers and 400 service providers, the flash PMI offers an early estimate ahead of final data, which will be released early next month. The HSBC Flash India Manufacturing PMI edged up to 58.3 in May from 58.2 in April, signalling continued strength, albeit at a stable pace. In contrast, the Services PMI Business Activity Index surged to 61.2 from 58.7, while the Manufacturing Output Index dipped marginally to 61.4 from April's 61.9. 'While goods producers indicated the slowest increase in output in three months, service providers reported the fastest rise since March 2024,' the survey said. 'At the composite level, the latest upturn was the quickest in just over a year. Surveyed firms attributed the momentum to buoyant demand, investments in technology, and capacity expansion.' India's ambition to become a $10 trillion economy over the next decade is being propelled by growth in manufacturing, particularly in sectors such as semiconductors, electronics, electric vehicles, renewables, and defence. To support this goal, the government has ramped up capital investment in infrastructure, job creation, and industrial development. "India's flash PMI indicates another month of strong economic performance. Growth in production and new orders among manufacturing firms remains robust, despite a marginal cooling from the rates of increase observed in April," said Pranjul Bhandari, Chief India Economist at HSBC. 'Notably, there is a firm pickup in employment, especially in the services sector, suggesting healthy job creation is accompanying the expansion of India's manufacturing and services sectors,' she added.
Hans India
22-05-2025
- Business
- Hans India
Business activity in India surges to 13-month high in May: HSBC Composite PMI
The HSBC Flash India Composite Output Index – which measures the month-on-month change in the combined output of India's manufacturing and service sectors – on Thursday reported robust business activity in May in the country, climbing to a 13-month high of 61.2, compared with 59.7 in the previous month. At 61.2 in May, the HSBC Index showcased a sharp rate of expansion in private sector activity. 'The increase was the most pronounced since April 2024. There was a mild loss of growth momentum in the manufacturing industry but service providers reported the fastest rise in output in 14 months,' according to a HSBC Flash India PMI note. The HSBC Flash India Manufacturing PMI was little changed from April's reading of 58.2. At 58.3 in May, the latest figure was consistent with a sharp improvement in the health of the sector. Private sector growth in India moved up a gear during May, boosted by an acceleration in the service economy. Strong influxes of new business, both from domestic and international markets, induced quicker expansions in business activity and employment. There was also an improvement in business confidence for the first time since January, said the HSBC. "India's flash PMI indicate another month of strong economic performance. Growth in production and new orders among manufacturing firms remains robust, despite a marginal cooling from the rates of increase observed in April,' said Pranjul Bhandari, Chief India Economist at HSBC. Notably, there is a firm pick-up in the employment, especially in the service sector, suggesting healthy job creation accompanies the expansion of both India's manufacturing and service sectors, Bhandari added. While goods producers indicated the slowest increase in output for three months during May, service providers reported the fastest rise since March 2024. At the composite level, the latest upturn was the quickest in just over a year. Monitored companies attributed growth to buoyant demand, investment in technology and expanded capacities, according to the note. 'Underlying data indicated that ongoing job creation enabled companies to stay on top of their workloads in May. Not only did employment continued to increase, but growth also hit a fresh series record (since December 2005). Anecdotal evidence showed that full- and part-time staff had been recruited on permanent and temporary bases,' said the HSBC report.
