Pvt sector output at record high in August

The four percentage point increase marked the sharpest expansion since the survey began in Dec 2005

- Rhik Kundu

India's private sector economy expanded at its fastest pace on record in August, buoyed by a surge in new orders, HSBC flash Purchasing Managers' Index (PMI) survey released Thursday showed.

The HSBC flash India Composite Output Index that tracks sequential changes in output in manufacturing and services, jumped to 65.2 in August from 61.1 in July.

"India's private sector economy posted its sharpest expansion since survey data were first collected in December 2005 during August," it said. The final PMI data will be released early next month.

The four percentage point increase marked the sharpest expansion since the survey began in December 2005, said the latest flash survey.