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Mfg, services gain momentum in Jan: India's first flash PMI
Hindustan Times
|January 25, 2024
India has joined a small list of economies to have flash Purchasing Manager Indices (PMIS) which will be released a week before the actual PMI numbers are released and the first set of these numbers suggest that both manufacturing and services activity gained momentum in January compared to December 2023.
"The inaugural Flash India. PMI showed that both the manufacturing and services sector grew at a faster clip in January. Of the two, business services grew at a faster clip, in fact the fastest in four months", Pranjul Bhandari, chief India and Indonesia economist for HSBC said in a research note while releasing the HSBC flash PMI data.
Flash composite, manufacturing, and services PMI numbers stood at 61, 56.9 and 61.2 respectively in January. The final PMI prints for the month of December were 58.5, 54.9 and 59 in the corresponding categories.
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