Now Reading: India business activity hits three-month high in September
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India business activity hits three-month high in September
India's private sector growth rose to a three-month high in September, with the HSBC Flash India Composite PMI touching 56.5, up from 54.3 in August. The manufacturing PMI climbed to a seven-month…
India's private sector growth rose to a three-month high in September, with the HSBC Flash India Composite PMI touching 56.5, up from 54.3 in August. The manufacturing PMI climbed to a seven-month high of 55.7, while the services PMI edged up to 55.8, according to the survey released Wednesday.
Demand strengthened across both sectors, led by manufacturers who reported stronger sales for aluminium, electronics, food and pharmaceuticals. Service providers cited marketing efforts and demand for properties, transport and travel bookings. Renewed Middle East tensions drove firms to build record inventory buffers, with finished goods stocks hitting an 11.5-year high.
Export order growth slowed to its weakest in nearly three years, mainly due to weaker services exports. Business confidence rose to a four-month high. Employment grew solidly as companies added staff in both manufacturing and services.
Indian Opinion Analysis
All five sources report the PMI data uniformly, attributing the rise to stronger manufacturing and services demand. The Economic Times and Mint both lead with the composite and sectoral PMI figures, while ThePrint focuses on a separate WEF survey showing India's strong growth outlook but falling business environment ranking. ThePrint's report provides useful context on global perceptions, though its survey covers only 36 economists. The balanced reading is that domestic activity is robust, but export slowdown and Middle East uncertainties are headwinds. The HSBC PMI final reading next month will confirm the trend.
Coverage: 5 sources, 5 neutral
Sources (5): livemint.com (neutral report), m.economictimes.com (neutral report), economictimes.indiatimes.com (neutral report), business-standard.com (neutral report), theprint.in (neutral report)
This brief was synthesised by AI from the 5 sources linked above, so one read covers every framing they carry.
Updated: this story now draws on 5 sources.
