India's private sector activity expands at fastest pace in 3 months
HSBC's flash India Composite PMI, which measures private-sector activity, rose to 59.3 in February, the strongest in three months, as demand for goods remained firm and services were broadly steady.
The key PMI number hit 59.3 in February, topping forecasts and signaling a strong push from sectors like tourism, marketing, and international sales.
Manufacturing output surges, services lose some momentum
Manufacturing output surged to a four-month high, but the services side lost some momentum—new business dropped to its lowest point in over a year even though exports picked up.
So it's a mixed bag: factories are busy, but service jobs saw hiring pick up.
Companies upbeat about future
With all this action, input costs jumped at their fastest pace in over a year—especially for service providers.
Even so, companies are hiring more and feeling upbeat about the future.
RBI to likely keep interest rates steady
With rising costs on everyone's mind, the RBI is expected to keep interest rates steady for now given concerns about price pressures.