In April, India s services sector saw a slight moderation, but maintained strength due to robust domestic and international demand, boosting business confidence to a three-month high. Despite a dip in the HSBC Services PMI to 60.8 from March s 61.2, it remained among the fastest growth rates in nearly 14 years.
April manufacturing PMI: The HSBC final India Manufacturing Purchasing Managers' Index, compiled by S&P Global, despite a fall, signalled the second-best improvement in the health of the sector for 3.5 years.
In April, India s manufacturing sector saw a slight slowdown, yet remained strong due to high demand, revealed by a private business survey. This surge in demand drove companies to increase raw material procurement nearly to record levels. The HSBC final India Manufacturing Purchasing Managers Index dipped to 58.8 from March s 16-year high of 59.1.
India's manufacturing activity expanded at the second-fastest pace in three-and-a-half years, bolstered by strong demand conditions, survey results from S&P Global showed on Thursday.
India s business activity surged to its highest level in nearly 14 years due to strong demand, reflecting robust economic growth. HSBC s purchasing managers index rose to 62.2, signaling expansion in both manufacturing and services sectors. Despite easing input inflation, rising demand may delay rate cuts as inflation is expected to persist.