India’s private sector saw its fastest growth in eight months during April, driven mainly by a sharp rise in foreign demand for manufactured goods. The HSBC Flash India Composite PMI rose to 60.0, with both manufacturing and services showing strong output. However, overall business confidence dipped slightly, especially in the services sector.

BulletsIn

• Private sector growth highest in 8 months, PMI rises to 60.0 in April.
• Strong demand for exports, especially in manufacturing, fuels growth.
• Manufacturing PMI at 58.4; highest level in a year.
• Services PMI also up, hits 4-month high of 59.1.
• New export orders surged, strongest since September 2014.
• 90-day delay on US tariffs helped boost foreign orders.
• Output, employment rose across manufacturing and services sectors.
• Manufacturers recorded highest job growth since March 2005.
• Firms passed higher input costs to clients, raising selling prices.
• Business sentiment dipped due to weaker services outlook.