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Informist, Wednesday, Sept. 23, 2026

 

--India September flash composite PMI output index 56.5 vs 54.3 Aug final

--India September flash services PMI activity index 55.8 vs 54.1 Aug final

--India September flash manufacturing PMI 55.7 vs 52.8 in Aug final

 

NEW DELHI – Growth in India's private sector activity improved in September, reflecting stronger growth momentum at the end of the second quarter of 2026-27 (Apr-Mar), S&P Global said Wednesday. Output growth ticked higher at both manufacturing and services companies, S&P Global, which compiles the PMI, said in a release.

 

The HSBC Flash Composite Purchasing Managers' Index rose to 56.5 in September from 54.3 in August. A PMI reading of more than 50 denotes expansion in activity from the previous month, while a print below 50 indicates contraction.

 

"Activity in the private sector gained momentum, led by stronger manufacturing. Output and new domestic orders rose at faster rates," Pranjul Bhandari, chief India economist at HSBC, said. "Renewed tensions in the Middle East have once again led firms to build buffers to manage the uncertainties."

 

 

The HSBC Flash Services Purchasing Managers' Index rose to 55.8 in September from 54.1 in August. Service providers saw an improvement in the business activities on the back of their marketing efforts which led to a boost in order intakes. They received stronger demand for "properties, transport services and new travel bookings" featuring in the qualitative part of the survey. Firms also saw a growing client interest for software and digital solutions, according to survey participants.

 

Both services and manufacturing sectors saw an improvement in September but the latter reported more pronounced acceleration in the business activity. The HSBC Flash Manufacturing Purchasing Managers' Index rose to 55.7 in September from 52.8 in August. "Sales growth remained above that recorded by services companies and hit a seven-month high," S&P Global said.

 

According to the survey, manufacturers recorded a rise in input stocks, greatest extent since February. "Growth of finished goods inventories climbed to an 11-and-a-half-year high," the release said.

 

Goods producers saw a firm demand for aluminium products, electronic items, food, pharmaceutical goods, and new models in general, S&P Global said. There was also a stronger rise in new work, especially from the US, Brazil, Europe, and the United Arab Emirates.

 

The input cost inflation rate eased across the private sector, while selling price inflation was broadly unchanged. "Softer cost pressures at services companies more than offset a pick-up among manufacturers," the report said. The survey found that an increase in overall cost burdens was because of greater outlays on electrical components, food items, fuel, metals, pharmaceutical ingredients, and technology resources, S&P Global said.

 

Further, market participants saw a solid growth in employment across the Indian private sector economy. "Aggregate employment rose solidly in September, as companies continued to add to staffing capacity amid sustained growth of output and new orders," S&P Global said.

 

Similarly, the year-ahead outlook improved in September as business owners exuded confidence, lifting overall optimism to a four-month high, the report said.  End

 

Reported by Shweta

Edited by Akul Nishant Akhoury

 

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