India's Business Booms! Activity Hits 7-Month High on Strong Demand

India's business activity is booming, hitting a 7-month high in February 2024. This positive news is fueled by strong demand in both the manufacturing and services sectors.

Key Points:

  • HSBC Flash PMI: Rose to 61.5 in February, up from 61.2 in January, exceeding the 50-mark indicating expansion.
  • Manufacturing PMI: Reached 56.7, its highest since September 2023, driven by increased new orders.
  • Services PMI: Hit 62.0, a 7-month high, due to robust demand in the dominant services industry.
  • Export Orders: Grew at the fastest pace since September 2023, indicating strong global demand for Indian goods.
  • Price Pressures: Eased slightly, offering some relief from inflation concerns.

Overall: This suggests India's economy is performing well and on track for continued growth. However, it's important to monitor inflation and external factors that could impact this positive momentum.

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