New Delhi, July 1 (IANS) India’s manufacturing PMI stood at 54.2 in June, signalling continued expansion in the sector, according to the HSBC Flash India PMI data released on Wednesday.The seasonally adjusted PMI remained comfortably above the 50-mark that separates expansion from contraction, indicating a sustained improvement in operating conditions across the manufacturing sector.According to the data, the HSBC India Manufacturing Purchasing Managers’ Index (PMI) came at 54.2, although the pa…
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New Delhi, June 23 (IANS) Private sector activity eased a bit in June in India amid geo-political tensions, while overall new orders volumes continued to rise strongly this month, the Purchasing Managers’ Index (PMI) data showed on Tuesday.Growth of manufacturing output softened a tad as inventory-building lost steam after a few hectic months. June data indicated a slowdown in growth of demand for Indian goods and services, restricting the extent to which output levels were raised. Concurrently,…
New Delhi, June 9 (IANS) As the world economies begin to diversify in the challenging environment as part of their China+1 strategy, India, which has seen an average GDP growth between six and six-and-a-half per cent in the last 12 years, is cushioning itself by signing several trade deals with advanced economies, HSBC’s Chief India Economist Pranjul Bhandari said on Tuesday.Talking to IANS from Singapore, she said that India’s potential growth, at this point in time, lies in its ability to grow…
New Delhi, June 9 (IANS) A fair increase in fuel prices could still be on the table if global crude oil costs remain elevated and India’s import bill continues to strain oil companies, Pranjul Bhandari, Chief India Economist at HSBC said on Tuesday.In an exclusive interview with IANS, Bhandari noted that India’s landed cost of crude oil imports has recently been around $110 per barrel, a level she said is putting significant pressure on oil marketing companies.“The landed cost of oil impor…
New Delhi, June 3 (IANS) India’s services PMI rose to 59.8 in May, from 58.8 in April, amid strengthening demand for freight, digital solutions, e-commerce, entertainment and IT, which boosted new business growth, the HSBC India Services PMI data showed on Wednesday.As a result, companies lifted activity to a greater extent and continued to add to payroll numbers.Although cost pressures remained historically high across India’s service economy, they receded to their lowest in four months, whic…
New Delhi, June 3 (IANS) The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) begins its three-day policy meeting on Wednesday, with experts widely expecting the central bank to maintain status quo on interest rates amid volatile global conditions, driven by ongoing tensions in West Asia. The policy decision will be announced on Friday by Governor Sanjay Malhotra.The June review comes amid sustained geopolitical tensions and volatile global crude and gas prices, which have complic…
New Delhi, June 2 (IANS) The Reserve Bank of India is expected to keep policy rates unchanged in the upcoming Monetary Policy Committee meeting, although its communication may turn more hawkish as rising oil prices and a weaker rupee complicate the inflation outlook, according to an economist at HSBC.Pranjul Bhandari, HSBC’s chief India economist and macro strategist, projects a gradual tightening with about two rate hikes beginning in the fourth quarter of 2026 rather than an aggressive tight…
New Delhi, June 1 (IANS) India’s manufacturing PMI rose to 55.0 in May, above the readings of 54.7 in April and the flash figure of 54.3 due to quicker increases in buying levels, new orders and output compared to April, with stockpiling gaining strength as a result, the HSBC Flash India PMI data showed on Monday.May data showed that growth across India’s manufacturing industry came in stronger than the ‘flash’ estimates released around 10 days ago. Meanwhile, purchasing prices rose at the sec…
New Delhi, May 21 (IANS) Growth across India’s private sector economy saw a marginal contraction in May amid the geo-political tensions, with HSBC Flash India PMI Composite Output Index standing at 58.1, compared to 58.2 in April, which signalled another marked expansion in private sector activity, it was announced on Thursday.Underlying data showed that a pick-up in growth across the service economy was offset by a weaker increase in factory production.After retreating in April, input price inf…
New Delhi, May 6 (IANS) India’s services sector activity strengthened in April, with the Purchasing Managers’ Index (PMI) rising to a five-month high of 58.8, because of robust domestic demand and increased business activity, the HSBC India Services PMI data showed on Wednesday.The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 57.5 in March to 58.8 in April, which is the strongest pace of expansion since November.Moreover, new business inflows also grew at the f…