Latest news with #HSBCFlashIndiaCompositePurchasingManagers'Index
Time of India
26 minutes ago
- Business
- Time of India
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
Economic Times
7 hours ago
- Business
- Economic Times
India's business activity surges in June on strong demand, record export orders, PMI shows
India's private sector activity surged in June, reaching a 14-month high, driven by strong domestic and international demand, record export growth, and robust hiring, according to the HSBC Flash India Composite PMI. The index rose to 61.0 from May's 59.3, marking nearly four years of continuous expansion. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India's private sector activity accelerated sharply in June as companies ramped up production to meet surging domestic and international demand, according to a survey released on Monday that showed record export growth and robust HSBC Flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, jumped to a 14-month high of 61.0 this month from 59.3 in May, exceeding a Reuters poll forecast for a modest lift to 50-mark separates growth from contraction and the latest data showed nearly four years of sustained gained momentum with the activity index rising to 60.7 from May's 58.8 - the strongest since August last year - while manufacturing gained pace thanks to robust output. Its PMI climbed to 58.4 in June from 57.6."New export orders continued to fuel private sector business activity, especially in manufacturing," noted Pranjul Bhandari, chief India economist at expansion was driven by favorable demand as composite new orders grew at the fastest pace in 11 months. Goods producers experienced a more pronounced upturn than services sales saw a remarkable rise, with overall new export business at the highest since the data started to be collected in September 2014. However, service providers recorded slower growth in export business compared to last month."The combination of robust global demand and rising backlogs prompted manufacturers to increase hiring," added employment growth reached a peak not seen since the series began over two decades ago. Service providers also continued adding jobs at a solid pace, albeit slower than in overall price pressures eased slightly with input cost inflation softening to a 10-month low, allowing firms to limit price hikes to remain competitive. That resulted in a slower rate of output price rises from May's six-month comes after data showed inflation eased to an over 6-year low in May, allowing the Reserve Bank of India to focus on supporting economic growth and cutting interest rates amid rising uncertainty from U.S. trade positive private sector performance, business confidence dipped to its lowest in just over two years. Manufacturers expressed slightly improved optimism while service providers tempered their expectations for the coming year.
Time of India
8 hours ago
- Business
- Time of India
India's business activity surges in June on strong demand, record export orders, PMI shows
India's private sector activity accelerated sharply in June as companies ramped up production to meet surging domestic and international demand, according to a survey released on Monday that showed record export growth and robust hiring. The HSBC Flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, jumped to a 14-month high of 61.0 this month from 59.3 in May, exceeding a Reuters poll forecast for a modest lift to 59.4. The 50-mark separates growth from contraction and the latest data showed nearly four years of sustained expansion. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Dieser einfache Trick kann den Gang verbessern Gesundheitsaktuell Mehr erfahren Undo Services gained momentum with the activity index rising to 60.7 from May's 58.8 - the strongest since August last year - while manufacturing gained pace thanks to robust output. Its PMI climbed to 58.4 in June from 57.6. "New export orders continued to fuel private sector business activity, especially in manufacturing," noted Pranjul Bhandari, chief India economist at HSBC. Live Events This expansion was driven by favorable demand as composite new orders grew at the fastest pace in 11 months. Goods producers experienced a more pronounced upturn than services firms. International sales saw a remarkable rise, with overall new export business at the highest since the data started to be collected in September 2014. However, service providers recorded slower growth in export business compared to last month. "The combination of robust global demand and rising backlogs prompted manufacturers to increase hiring," added Bhandari. Manufacturing employment growth reached a peak not seen since the series began over two decades ago. Service providers also continued adding jobs at a solid pace, albeit slower than in May. Meanwhile, overall price pressures eased slightly with input cost inflation softening to a 10-month low, allowing firms to limit price hikes to remain competitive. That resulted in a slower rate of output price rises from May's six-month high. That comes after data showed inflation eased to an over 6-year low in May, allowing the Reserve Bank of India to focus on supporting economic growth and cutting interest rates amid rising uncertainty from U.S. trade tariffs. Despite positive private sector performance, business confidence dipped to its lowest in just over two years. Manufacturers expressed slightly improved optimism while service providers tempered their expectations for the coming year.
Time of India
23-04-2025
- Business
- Time of India
India's composite PMI hits 8-month high in April, signals robust expansion in both manufacturing and services
India's private sector expansion reached an eight-month high in April, fueled by strong demand and a notable surge in foreign orders for manufactured goods, according to the HSBC Flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global. Tired of too many ads? go ad free now The Composite PMI rose to 60.0 in April from 59.5 in March, marking the strongest growth in combined manufacturing and services activity since August. A reading above 50 signals expansion. The manufacturing sector showed particularly strong momentum, with its PMI climbing to 58.4, up from 58.1, reaching a one-year high. The services sector also maintained solid growth, with its PMI increasing to 59.1 from 58.5, the highest level in four months. "Private sector firms noted a record increase in new export orders during April amid healthy demand from Africa, Asia, Europe, the Middle East and the Americas. Goods producers saw a stronger rate of expansion than service providers, and one that was the most pronounced in over 15 years," it said in its report. This upswing was driven largely by increased business in the services sector and a significant rise in goods production and new orders, especially from international markets. New export orders surged to their highest level since September 2014, mainly benefiting the manufacturing industry, which posted its strongest performance in over 15 years. "New export orders accelerated sharply, likely buoyed by the 90-day pause in the implementation of tariffs. As a result, output and employment grew, for both, manufacturers and service providers. Cost inflation was in line with March levels, but prices charged rose a tad faster, leading to improved margins," said Pranjul Bhandari, Chief India Economist at HSBC, referencing US President Donald Trump's temporary deferral of broad tariffs announced on April 2. Tired of too many ads? go ad free now India's strengthening position as an alternative global manufacturing hub—especially as China grapples with higher US duties—has contributed to this surge in external demand. In response, both manufacturers and service providers increased output and hiring, with manufacturing employment rising to its highest level since March 2005.
