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India private sector regains growth momentum in May
(21-Jun-2024, 11:07 Hours IST)

Output growth across India's private sector regained some of the momentum lost in May, with business activity increasing at quicker rates among manufacturing firms and their services counterparts. The HSBC Flash India PMI data, compiled by S&P Global, also showed a substantial upturn in aggregate employment amid robust expansions in total new orders intakes and international sales. Meanwhile price pressures receded.

The headline HSBC Flash India Composite Output Index? a seasonally adjusted index that measures the month on-month change in the combined output of India's manufacturing and service sectors ? increased from 60.5 in May to 60.9 in June, highlighting a quicker rate of expansion that was substantial by historical standards and broadly aligned with the average over the past 12 months. As has been the case since February, growth was stronger at goods producers than at service providers

Manufacturers saw a quicker improvement in the overall health of the sector at the end of the first fiscal quarter, with the HSBC Flash India Manufacturing PMI ? a single figure snapshot of factory business conditions calculated from measures of new orders, output, employment, supplier delivery times and stocks of purchases ? rising from 57.5 in May to 58.5 in June. There were stronger contributions from all of its five sub-components

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