India's private sector activity signals sharp expansion

Indias private sector activity signalled a sharp expansion in activity, remaining well above the long-run average, after growth had slowed in March due to disruptions linked to the West Asia conflict. HSBC Flash India Composite PMI Output Index rose to 58.3 in April from 57.0 in March, according to data compiled by S&P Global. This indicated improved output and new order growth. Services activity also improved, with the HSBC India Services PMI rising to 57.9 from 57.5 month on month, reflecting sustained demand in the sector. The overall growth edged up, with the HSBC India Composite PMI moving up to 58.3 in April from 57 in March, underscoring broad based expansion across the economy.