Economic growth in India continued to strengthen in February, according to the HSBC Flash India PMI, with further accelerations evident in both the manufacturing and service sectors. This is the first time India has stepped into the spotlight with the release of its Flash Purchasing Managers’ Index (PMI). The headline HSBC Flash India Composite PMI Output Index a seasonally adjusted index that measures the month-on-month change in the combined output of India’s manufacturing and service sectors rose from a final reading of 61.2 in January to 61.5 in February. The latest figure was consistent with a sharp rate of expansion that was the strongest since mid-2023. Growth improved in both the manufacturing (five-month high) and services (seven-month high) economies, with survey participants attributing the upturn to buoyant demand conditions, investment in technology, efficiency gains, expanded clientele and favourable sales developments, the report stated. New orders across India’s …
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