India: Private-sector PMI rises in April
May 6, 2022
The composite Purchasing Managers’ Index (PMI) produced by S&P Global increased to 57.6 in April, from 54.3 in March. As a result, the PMI moved further above to the 50-threshold, indicating a stronger expansion in business activity from the previous month.
The services PMI jumped to 57.9 in April, from 53.6 in March, as rising new work boosted business activity and drove a renewed increase in employment levels. Moreover, on the manufacturing side, the PMI rose to 54.7 in April, from 54.0 in March, thanks to studier expansions in output and new orders. Notably, price pressures intensified across the board, chiefly due to higher commodity prices amid the Russia-Ukraine war.