HSBC Composite PMI Stable In Mar

New Delhi: India’s business activity ended FY25 on a strong note, with the manufacturing sector posting a robust expansion in sales and production during March, driven by a rising demand for goods. Hiring, too, increased during the month, according to the HSBC Flash India survey released on Monday.

The HSBC Flash India Composite Output Index was stable at 58.6 in March compared to February’s final reading of 58.8. The latest figure was above its long-run average of 54.7 and continued to indicate a strong growth. The HSBC Flash India Manufacturing PMI increased from 56.3 in February to 57.6 in March, signaling a notable improvement in operating conditions that was broadly aligned with the average for FY25. Three of its five main sub-components — output, new orders and stocks of purchases — rose since last month, the survey showed.

Private sector companies attributed the increase in production mainly to positive demand trends. New orders rose further, stretching the current phase of expansion to over three-and-a-half years.

Goods producers indicated a quicker increase than in February, and one that was above the growth rate recorded for service providers.