Economy uptrend continues on manufacturing, services boost: FinMin
Both the manufacturing and services sectors showed strong performance, driven by high demand and greater capacity utilisation, FinMin says in its monthly economic bulletin
Both the manufacturing and services sectors showed strong performance, driven by high demand and greater capacity utilisation, FinMin says in its monthly economic bulletin
Output price inflation in the manufacturing sector rose to an 11-year high, despite a slight slowdown in input prices, says HSBC
The HSBC India Services PMI was above 50 mark for the 36th consecutive month.
The increase in output in July was driven by continued growth in manufacturing sector activity
The HSBC India Services Business Activity Index fell from 60.8 in April to 60.2 in May, its lowest mark since last December.
Companies witnessed reduced working hours in May amid an intensive heatwave in India that sent temperatures soaring to record highs.
India's composite PMI surged to 61.7 in May 2024, a marginal leap from April's 61.5, marking the 34th consecutive month the index remained above the 50-level
The rise in raw material stocks during the month was supported by increased buying levels.
The final HSBC India Services Purchasing Managers' Index (PMI), compiled by S&P Global, climbed to 61.2 last month, surpassing February's 60.6 reading.
HSBC's fash India Composite Purchasing Managers' Index (PMI), compiled by S&P Global, climbed to 61.3 this month compared to February's final reading of 60.6.