Private sector activity rises to 8-month high in April

PRIVATE sector output has grown at its fastest pace in eight months in April on the back of sharp rise in new businesses; mainly buoyant global demand for goods and services, shows a private survey.

- ENS ECONOMIC BUREAU @ Mumbai

As per the purchasing managers' index (PMI), published by HSBC and compiled by S&P Global, rose to 60, from 59.5 in the previous month, making the reading the highest in the past eight months. The index has been above the neutral 50 mark that separates growth from contraction for the 45th consecutive month, the bank said on Wednesday. "Private sector companies have seen a sharp rise in new