Financial News: India Private Sector Activity Expands Most In 6

India Private Sector Activity Expands Most In 6 Months

02/21/2025 - 02:14:00 (RTTNews)

(RTTNews) - India's private sector growth accelerated to a 6-month high in February amid a quicker expansion in services activity, flash data compiled by S&P Global showed on Friday.

The HSBC composite output index rose to 60.6 in February from 57.7 in January. A score above 50.0 indicates expansion.

Service providers noted a quicker increase than manufacturers and one that was the strongest in just under a year, the survey said.

The manufacturing Purchasing Managers' Index dropped to 57.1 from 57.7 in the previous month. Meanwhile, the services PMI climbed to 61.1 from 56.5 a month ago.

New orders received by the Indian private sector rose at the fastest pace in six months as both factory orders and new business intakes in services increased sharply.

The private sector secured more international sales, which grew at the steepest pace in seven months amid gains from across the globe.

Capacity pressures persisted in February as outstanding business volumes rose further, which was more pronounced at services firms than at their manufacturing counterparts.

The rate of job creation in the private sector increased to a new series peak in February, of which services companies recruited staff at a stronger pace than goods producers.

On the price front, input prices continued to increase amid rising labor and transportation costs. Nonetheless, the rate of inflation eased to a 4-month low. Meanwhile, the selling price inflation accelerated to a three-month high.

Looking ahead, private sector companies remained confident about output expectations, with the business sentiment rising to the highest level since November 2024.

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