By Admin 
India Private Sector Economy: The activities of India’s private sector have reached a new record level in August. HSBC Flash India Composite PMI output index reached 65.2 due to the rise in orders. At the same time, PMI of the service sector has been recorded at 65.5, which has reached this level for the first time since the start of this index since December 2005 and has also surpassed manufacturing growth. Composite PMI was 61.1 in July while in August 2024 it was recorded 60.7.
Service sector leads
The growth of the service sector was at the top. India’s HSBC Chief Economist Pranjul Bhandari said that due to new business orders at both domestic and export levels, the PMI of the service sector has reached all time high.
Manufacturing sector also strong
At the same time, the manufacturing sector was also seen to be strong. Manufacturing PMI increased to 59.8 in August, which was 59.1 in July. This is the strongest performance of the manufacturing sector since January 2008. Pranjul Bhandari says that due to the rise in domestic demand, manufacturing PMI is close to touching the level of 60.
Although there has not been a big change in export orders compared to July, the most demand has been seen at the international level since 2014. Orders have increased especially from Asia, West Asia, Europe and America.
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