India, May 22 -- In May, India's private sector experienced a notable acceleration, driven primarily by a strong service sector performance. An influx of new business—from both domestic and international markets—sparked rapid expansion in business activity and employment, while business confidence improved for the first time since January.
The HSBC Flash India Composite Output Index, which measures the month-on-month change in combined manufacturing and service output, climbed to 61.2 in May from 59.7 in April, marking the most significant expansion rate seen since April 2024. Although the manufacturing segment experienced a slight slowdown in growth momentum, service providers recorded their fastest output rise in 14 months.
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