India's Economic Engine Roars: Services Sector Propels Growth to Six-Month High

India's private sector activity surged to a six-month high in February, driven by a robust expansion in the services sector, according to the latest HSBC Flash PMI data. The Composite PMI Output Index climbed to 60.6 from 57.7 in January, with services reaching 61.1, its highest level since March 2024. While manufacturing growth moderated slightly to 57.1, overall business optimism remained strong. The survey revealed record-high job creation and improved export demand. HSBC's Chief India Economist, Pranjul Bhandari, noted that restocking trends are boosting export orders, while easing input costs and rising output prices are improving margins, especially for goods producers.

 

Sources: Business Standard, Bloomberg, Financial Express