India PMI points to firmer improvement in business conditions across private sector economy

The HSBC Flash PMI data for September pointed to a firmer improvement in business conditions across India?s private sector economy. Output growth ticked higher at both manufacturing and services companies, with goods producers leading the latest upturn. Aggregate new orders also rose at a quicker pace, prompting a solid expansion in jobs. Meanwhile, inflationary pressures faded and business confidence strengthened. The HSBC Flash India PMI 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 ? posted 56.5 in September, up from a final reading of 54.3 in August. The latest print was consistent with a sharper expansion in private sector activity and one that was the most pronounced since June. Moreover, the respective index was back above its long-run average.

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