PMI Composite Surges In Apr

New Delhi: There was a strong growth in India’s composite flash purchasing managers index (PMI) for April on the back of an acceleration in manufacturing output and services business activity, according to HSBC data released on Wednesday.

The April reading came in at a robust 60, which was higher than the March one across the board, despite trade-related uncertainties, the report states. A figure of 50 on the PMI separates expansion from contraction.

New export orders accelerated sharply during the month, likely buoyed by the 90-day pause in the implementation of US tariffs. While the pace of expansion was a tad faster for manufacturers, the rise in services’ new export business was equally impressive.