India?s private sector growth accelerates to four-month high in October

India?s private sector business activity expanded at a faster pace in October, supported by stronger output and new orders, according to the HSBC Flash PMI?. The HSBC Flash India PMI Composite Output Index rose to 56.7 in October from 55.9 in September, marking its fastest growth since June.

Growth strengthened across manufacturing and services, with export orders rising at the fastest pace in six months. However, job creation slowed to a marginal pace, as services employment remained unchanged and manufacturing hiring increased slightly. Backlogs of work declined at the fastest rate since August 2021.

The HSBC Flash India Manufacturing PMI eased to 54.9 from 55.1 in September, while purchasing activity growth slowed. Inventories increased amid stronger demand and shorter supplier delivery times.

Inflationary pressures continued to soften, with input cost inflation reaching its lowest level in nearly a year and output price inflation easing to its slowest pace since March 2025. Business confidence improved to its highest level since May.

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