India's PMI shows improved business conditions across private sector

The HSBC Flash PMI data for September indicated a more robust improvement in business conditions throughout India’s private sector economy. Output growth accelerated at both manufacturing and services companies, with goods producers spearheading the latest upswing. Aggregate new orders also increased at a faster rate, fueling a notable expansion in employment. Concurrently, inflationary pressures receded and business confidence strengthened. The HSBC Flash India PMI Composite Output Index – a seasonally adjusted measure of the month-over-month change in the combined output of India's manufacturing and service sectors – registered 56.5 in September, an increase from a final reading of 54.3 in August. The latest figure signaled a more pronounced expansion in private sector activity and the most substantial since June. Furthermore, the index returned above its long-run average.