Latest news with #IndiaCompositePurchasingManagers'Index
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Business Standard
22-05-2025
- Business
- Business Standard
Private sector business activity rises to 13-month high in May: PMI data
India's private sector output grew at its fastest pace in 13 months in May, helped by a sharp rise in services that prompted the sector to employ more people, said a private survey on Thursday. HSBC's flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 61.2, up from a downward revised figure of 59.7 in April. The index, which measures monthly change in the combined output of manufacturing and services, has been above the 50 mark that separates growth from contraction for the 46th consecutive month. "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," said the survey. The HSBC Flash India Manufacturing PMI was at 58.3 in May, little changed from April's reading of 58.2. The latest figure – a weighted average of new orders, output, employment, suppliers' delivery times and stocks of purchases indices –was consistent with a sharp improvement in the health of the sector. '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,' said the survey. Pranjul Bhandari, chief India economist at HSBC, said the flash PMI for May indicates another month of strong economic performance as growth in production and new orders among manufacturing firms remains robust, despite a marginal cooling from the rates of increase observed in April. 'Notably, there is a firm pick up in employment, especially in the service sector, suggesting healthy job creation accompanies the expansion of both India's manufacturing and service sectors," she said. Flash PMI records 75 per cent to 85 per cent of the 800 responses from services and manufacturing firms each month. The final manufacturing PMI figure for May will be released on June 2; services and composite PMI figures will be released on June 4. 'May data showcased reduced pressure on the operating capacities of Indian private sector companies, as outstanding business volumes rose at the slowest pace since September 2024. Service providers noted the weakest increase in backlogs for eight months and goods producers signalled no change since April,' said the survey. Composite PMI Output Index Flash Final Jan 2024 61 61.2 Feb 61.5 60.6 March 61.3 61.8 April 62.2 61.5 May 61.7 60.5 June 60.9 60.9 July 61.4 60.7 Aug 60.5 60.7 Sep 59.3 58.3 October 58.6 59.1 November 59.5 58.6 December 60.7 59.2 January 2025 57.9 57.7 February 60.6 58.8 March 58.6 59.5 April 60 59.7 May 61.2 Source: HSBC
News18
23-04-2025
- Business
- News18
Private Sector Growth In April Hits 8-Month High As Export Orders Surge: PMI
The HSBC flash India Composite Purchasing Managers' Index (PMI) climbs to 60, up from 59.5 in March, the strongest pace of combined manufacturing and services growth since August. India's private sector growth rose to an eight-month high in April fuelled by robust demand, particularly a surge in foreign orders for manufactured goods, according to a survey, but business confidence showed some signs of softening. While the latest data underscores a vibrant start to the fiscal year for India's economy, the souring outlook will make it challenging to maintain momentum at a time when US President Donald Trump's tariffs have hurt business sentiment. The HSBC flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, climbed to 60.0, up from 59.5 in March, the strongest pace of combined manufacturing and services growth since August. The 50-mark separates growth from contraction. Manufacturing growth underpinned the strong performance, with the index rising to 58.4 from 58.1 and reaching a level not seen in a year. The services PMI index also showed solid growth, rising to a four-month high of 59.1 from 58.5 last month. Higher new business in the services sector and an improvement in goods production and new orders – a key gauge for demand – especially from international clients, were the primary drivers of the overall positive momentum. '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 referring to Trump's decision to target dozens of countries on April 2 by announcing sweeping tariffs on goods before deferring them for 90 days. India is trying to position itself as a manufacturing base of choice for the world as China faces high US duties. The record surge in new export business, the strongest since the index was measured in September 2014, was heavily concentrated within the manufacturing sector which registered the most significant increase in over 15 years. 'As a result, output and employment grew, for both, manufacturers and service providers," Bhandari added. Amid an intensification of capacity pressures, firms continued to hire additional staff across sectors with goods producers recording the highest employment generation since the beginning of the survey in March 2005. While input cost inflation trends were mixed, accelerating in the manufacturing sector and decelerating in their services counterpart compared to March, robust demand allowed firms to pass higher costs on to clients. Selling prices saw a sharper increase led by manufacturers. Business sentiment was also mixed with strong order inflows improving optimism among goods producers, but softening in the services sector resulting in an eight-month low overall outlook for the coming year.
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Business Standard
23-04-2025
- Business
- Business Standard
Private sector business activity rises to 8-month high in April: PMI data
India's private sector output grew at its fastest pace in eight months in April amid a sharp rise in new business, particularly 'buoyant' international demand for goods and services, said a private survey on Wednesday. The HSBC flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 60.0, up from revised 59.5 in March. The index, which measures monthly change in the combined output of the two sectors, has been above the neutral 50 mark that separates growth from contraction for the 45th consecutive month. "Private sector companies in India welcomed a sharp rise in total new business intakes at the start of the 2025/26 fiscal year, which was boosted by buoyant international demand for goods and services. Collectively, new export orders increased at the fastest pace since the series started in September 2014 as survey participants noted gains from across the globe," said the survey. Manufacturing clocked a sharper upturn in new business orders than service. Manufacturing flash PMI, which is a composite measure of new orders, output, employment, supplier delivery times, and inventory, improved to 58.4 in April from 58.1 in March. 'Companies operating in India's private sector suggested that output levels had been raised in response to efficiency gains, positive demand trends and successful advertising. Some panellists also reported an improvement in international competitiveness as a result of the rupee's depreciation against the US dollar,' said the survey. "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, referring to US President Donald Trump's decision to defer by 90 days his decision to impose tariffs on dozens of countries. '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," she said. Amid 'intensification of capacity pressures', companies in both sectors continued to hire additional staff. 'Anecdotal evidence showed that full- and part-time staff had been recruited in April. Rates of job creation were equal at goods producers and service providers.' Flash PMI records 75 per cent to 85 per cent of the 800 responses from services and manufacturing firms each month. The final manufacturing PMI figure for April will be released on May 2; services and composite PMI figures will be released on May 6.
Time of India
23-04-2025
- Business
- Time of India
India April business growth hits 8-month high as export orders surge, PMI shows
India's private sector growth rose to an eight-month high in April fueled by robust demand, particularly a surge in foreign orders for manufactured goods, according to a survey, but business confidence showed some signs of softening. While the latest data underscores a vibrant start to the fiscal year for India's economy, the souring outlook will make it challenging to maintain momentum at a time when U.S. President Donald Trump's tariffs have hurt business sentiment. The HSBC flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, climbed to 60.0, up from 59.5 in March, the strongest pace of combined manufacturing and services growth since August. The 50-mark separates growth from contraction. Manufacturing growth underpinned the strong performance, with the index rising to 58.4 from 58.1 and reaching a level not seen in a year. The services PMI index also showed solid growth, rising to a four-month high of 59.1 from 58.5 last month. Higher new business in the services sector and an improvement in goods production and new orders - a key gauge for demand - especially from international clients, were the primary drivers of the overall positive momentum. "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 referring to Trump's decision to target dozens of countries on April 2 by announcing sweeping tariffs on goods before deferring them for 90 days. India is trying to position itself as a manufacturing base of choice for the world as China faces high U.S. duties. The record surge in new export business, the strongest since the index was measured in September 2014, was heavily concentrated within the manufacturing sector which registered the most significant increase in over 15 years. "As a result, output and employment grew, for both, manufacturers and service providers," Bhandari added. Amid an intensification of capacity pressures, firms continued to hire additional staff across sectors with goods producers recording the highest employment generation since the beginning of the survey in March 2005. While input cost inflation trends were mixed, accelerating in the manufacturing sector and decelerating in their services counterpart compared to March, robust demand allowed firms to pass higher costs on to clients. Selling prices saw a sharper increase led by manufacturers. Business sentiment was also mixed with strong order inflows improving optimism among goods producers, but softening in the services sector resulting in an eight-month low overall outlook for the coming year.
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Business Standard
23-04-2025
- Business
- Business Standard
April composite PMI at 60 as biz growth hits 8-month high on export surge
Manufacturing PMI rose to a 1-year high of 58.4 in April; services hit 4-month peak at 59.1, signalling robust private sector growth and strong demand across both segments Reuters India's private sector growth rose to an eight-month high in April fueled by robust demand, particularly a surge in foreign orders for manufactured goods, according to a survey, but business confidence showed some signs of softening. While the latest data underscores a vibrant start to the fiscal year for India's economy, the souring outlook will make it challenging to maintain momentum at a time when US President Donald Trump's tariffs have hurt business sentiment. The HSBC flash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, climbed to 60.0, up from 59.5 in March, the strongest pace of combined manufacturing and services growth since August. The 50-mark separates growth from contraction. Manufacturing growth underpinned the strong performance, with the index rising to 58.4 from 58.1 and reaching a level not seen in a year. The services PMI index also showed solid growth, rising to a four-month high of 59.1 from 58.5 last month. Higher new business in the services sector and an improvement in goods production and new orders - a key gauge for demand - especially from international clients, were the primary drivers of the overall positive momentum. "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 referring to Trump's decision to target dozens of countries on April 2 by announcing sweeping tariffs on goods before deferring them for 90 days. India is trying to position itself as a manufacturing base of choice for the world as China faces high US duties. The record surge in new export business, the strongest since the index was measured in September 2014, was heavily concentrated within the manufacturing sector which registered the most significant increase in over 15 years. "As a result, output and employment grew, for both, manufacturers and service providers," Bhandari added. Amid an intensification of capacity pressures, firms continued to hire additional staff across sectors with goods producers recording the highest employment generation since the beginning of the survey in March 2005. While input cost inflation trends were mixed, accelerating in the manufacturing sector and decelerating in their services counterpart compared to March, robust demand allowed firms to pass higher costs on to clients. Selling prices saw a sharper increase led by manufacturers. Business sentiment was also mixed with strong order inflows improving optimism among goods producers, but softening in the services sector resulting in an eight-month low overall outlook for the coming year.
