Composite PMI for the private sector. (File Photo)
\n\nIndia’s private sector activity gathered momentum in October, reaching its highest growth rate since June as businesses benefited from stronger demand in manufacturing and services. However, the improvement in output and new orders did not translate into stronger employment, with companies adopting a cautious approach to recruitment, according to the HSBC Flash India Composite Purchasing Managers’ Index (PMI).
\n\nThe Composite Output Index climbed to 56.7 in October from 55.9 in September, signalling a marked expansion in private sector activity. While the latest reading represented the strongest growth in four months, the pace remained below the average recorded during 2026 so far.
\n\nHSBC said “India's manufacturing and services sectors rose to 56.7 in October from 55.9 in September, pointing to a marked monthly expansion of business activity and one that was the fastest since June. That said, the rate of increase remained below the average seen across 2026 so far."
\n\nThe improvement in private sector activity was driven by better market conditions and an increase in new business received by companies. Fresh orders grew at a faster pace during October, reflecting stronger demand across both domestic and international markets.
\n\nExport demand showed particular…
Original source: https://www.timesnownews.com/business-economy
