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India's Economy Surges Further Ahead In February
February 23, 2024
|Mint Mumbai
Services sector output at seven-month high, manufacturing sector at five-month high in Feb
62 HSBC Flash India Services PMI Biz Activity Index-Feb
56.7 HSBC Flash India Manufacturing PMI for Feb
The Indian economy, which expanded at a four-month high in January, continued to strengthen in February, seeing accelerations in both manufacturing and services sectors during the month.
While services sector growth climbed to a seven-month high in February, manufacturing sector growth reached a five-month high, firming India’s position as one of the fastest-growing major economies.
The HSBC Flash India Composite Purchasing Managers’ Index (PMI), compiled by S&P Global, climbed to 61.5 in February from a revised reading of 61.2 for January—well above the 50-point threshold that differentiates expansion from contraction.
The seasonally adjusted index measures month-on-month change in the combined output of India’s manufacturing and service sectors.
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