Indian Private Sector Growth Improves In September

(RTTNews) - India's private sector expanded at its fastest pace in three months during September, driven by robust output growth across manufacturing and services, according to flash survey data from S&P Global released Wednesday.

The HSBC flash composite output index rose to 56.5 in September from 54.3 in the previous month. A reading above 50 signals expansion.

Goods producers largely drove the latest upturn, with the manufacturing PMI rising to 55.7 in September from 52.8 in August. The services PMI also rose to 55.8 from 54.1.

The private sector companies received a faster increase in total new orders as demand strengthened across both monitored sectors, especially at manufacturers. Meanwhile, new export order growth eases to the weakest level in close to three years, reflecting slower growth at services firms.

In line with sustained growth of output and new orders, private sector employment grew at a solid pace, and outstanding business showed a marginal uptick.

On the price front, input price inflation eased to the lowest level since January as softer cost pressures at services companies more than offset a pick-up among manufacturers. Meanwhile, selling price inflation was broadly unchanged.