India's Private-Sector Activity Accelerates in September, Flash PMI Shows

MT Newswires Live

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Business activity across India's private sector expanded in September, with the HSBC India Composite PMI rising to 56.5 from 54.3 in August, according to preliminary data compiled by S&P Global and released Wednesday.

The reading was above the 54.5 market consensus tracked by Trading Economics, and remained well above the 50 mark that separates expansion from contraction.

The monthly momentum was driven by stronger growth in both manufacturing and services output, with goods production leading the upturn.

Aggregate new orders also rose at a quicker pace, while employment expanded solidly.

The manufacturing PMI, released the same day, rose to 55.7 from 52.8 the previous month, while the services PMI grew to 55.8 from 54.1 in August.

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