HSBC | DD News

December 16, 2024 1:19 PM

Indian economy makes strong end to 2024; Composite PMI for December hits 60.7

India’s economy has shown strong performance as it closes out 2024, with the HSBC Flash India Composite Output Index rising to 60.7 in December, up from 58.6 in November. This marks the highest expansion in economic activity since August 2024, according to data compiled by S&P Global. India’s private sector recorded robust growth in December, achieving its best performance in four months. Both the manufacturing and services sectors experienced accelerated growth, fueled by a surge in ne...

December 2, 2024 9:07 PM

India’s manufacturing PMI dips to 56.5 in November but remains in expansion zone

India's manufacturing sector showcased resilience in November despite mounting cost pressures and fierce competition. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) stood at 56.5, slipping from October's 57.5 and matching an 11-month low. However, the PMI remained well above the 50-mark threshold, signaling continued expansion in the sector. A robust demand environment drove growth in sales and output, but escalating costs and competitive pressures tempered th...

November 22, 2024 1:14 PM

India’s business activity surges to 3-month high in Nov: report

India's business activity surged to a three-month high in November, driven by robust growth in the services sector and record job creation, according to the HSBC survey for the month. "Services saw a pick-up in growth, while the manufacturing sector managed to outperform expectations despite a marginal slowdown from its October final PMI reading," said Pranjul Bhandari, chief India economist at HSBC. HSBC's flash India Composite Purchasing Managers' Index compiled by S&P Global increased t...

May 2, 2024 5:50 PM

India’s manufacturing growth momentum continues, future looks bright: HSBC

India's manufacturing sector witnessed its second-fastest pace of improvement in three-and-a-half years in April, as per the latest HSBC PMI (Purchasing Manager's Index) data. The data indicates a surge in market demand driving this growth, with firms experiencing a surge in new intakes and scaling up production. However, in comparison to the previous month, the HSBC India Manufacturing Purchasing Managers' Index (PMI) data registered a dip in the April month but it remained above the neutral m...