HSBC Flash India Composite PMI registered 58.1 in May, down marginally from 58.2 in April, indicating continued but slightly slower private sector expansion.
Input price inflation reached its second-highest level in nearly three years, with manufacturing costs rising at the steepest rate since July 2022.
Service providers outperformed manufacturers with business activity index at 58.9 versus manufacturing output index of 56.6, while employment growth remained solid.
New export orders expanded at the weakest pace in 19 months, with goods producers recording second-slowest international sales rise since September 2024.