Mumbai, May 22 -- Private sector growth in India moved up a gear during May, boosted by an acceleration in the service economy. Strong influxes of new business, both from domestic and international markets, induced quicker expansions in business activity and employment.

There was also an improvement in business confidence for the first time since January. In terms of inflation, the HSBC 'flash' PMI data revealed the fastest increases in input costs and output charges since late 2024.

At 61.2 in May, up from 59.7 in April, the HSBC Flash India Composite Output Index - a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors - showcased a sharp rate of expansio...