The record
Written from the 1 report below. Nothing here is unsourced.
- India's private sector growth strengthened in September as reported by the latest Flash Purchasing Managers' Index.
- Both manufacturing and services sectors recorded expansions, with manufacturing showing faster gains.
- Companies reported increased new business and demand, leading to higher employment rates across both sectors.
- The data suggests an overall improvement in economic momentum compared to August.
What to watch next
- Release of final manufacturing PMI figures on October 1st
- Release of final services PMI figures on October 6th
Who said what2
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Pranjul Bhandari
Chief India Economist at HSBC
2 quotes · 1 outlet
“Activity in the private sector gained momentum, led by stronger manufacturing. Output and new domestic orders rose at faster rates”
In the article
…on Wednesday. The headline indicator, the HSBC Flash India Composite PMI Output Index increased from 54.3 in August to 56.5 in September. To be sure, manufacturing reported stronger gains than services in the data. “ Activity in the private sector gained momentum, led by stronger manufacturing. Output and new domestic orders rose at faster rates ,” said Pranjul Bhandari, Chief India Economist at HSBC. All four indicators in the Flash PMI data show a strong improvement between August and September. Flash India Services PMI Business Activity Index increased from…
“Renewed tensions in the Middle East have once again led firms to build buffers to manage the uncertainties. Input purchases picked up pace and the stocks of finished goods index is now at an 11-and-a-half-year high. Price pressures firmed at manufacturers, with output price inflation gathering pace, signalling a renewed push to protect margins”
In the article
…manufacturers. Firms that experienced an increase in overall cost burden attributed it to increased spending on electrical components, foodstuff, fuel, metals, pharmaceutical ingredients and technology resources. “ Renewed tensions in the Middle East have once again led firms to build buffers to manage the uncertainties. Input purchases picked up pace and the stocks of finished goods index is now at an 11-and-a-half-year high. Price pressures firmed at manufacturers, with output price inflation gathering pace, signalling a renewed push to protect margins ,” she added. Final figures for manufacturing PMI and services PMI will be released on October 1st and 6th respectively. - ABOUT THE AUTHORShreya KhandelwalShreya Khandelwal is a trainee (data) at Hindustan Times and…
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Named India · HSBC · Pranjul Bhandari · S&P Global
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