New Delhi, Jan. 23 -- India's private sector activity strengthened in January, driven by a rise in new business and improved demand conditions, according to data released by S&P Global on Friday. The HSBC Flash India Composite Output Index, which tracks combined activity across manufacturing and services, rose to 59.5 in January from 57.8 in December.
While the reading signaled continued expansion, it pointed to a relatively slower pace of growth on a month-on-month basis. Manufacturing and services recorded broadly similar growth rates during the month. Faster growth in private sector output was largely supported by an increase in new orders, with companies citing stronger customer demand and effective marketing efforts.
Manufacturing fi...