India Pmi Composite

The HSBC India Composite flash PMI rose to 62.2 in April 2024 from a final 61.8 in the prior month. It was the 33rd straight month of expansion in private sector activity and the fastest pace since June 2010, buoyed by robust growth in the manufacturing and services sector. Both output and new orders expanded the most in nearly 14 years while foreign sales increased the most since the series began in September 2014. Meantime, employment increased slightly as firms tried to meet higher demand and clear backlogs. Pressures on capacity sustained but remained mild, with orders pending completion rising for the 28th month in a row despite the rate of growth slightly easing from that in March. On inflation, composite input and output prices moderated, albeit remaining robust. Finally, confidence improved from March's four-month low, and was above the series average, reflecting hopes of further improvements in demand and productivity.