India's private sector output growth picked up again in June, with business activity among manufacturing companies and service firms expanding at a faster pace, while labor hiring hit an 18-year high, according to HSBC's flash Purchasing Managers' Index (PMI) data. Has reached.
"It is a matter of great joy that the record of the last 18 years has been broken and the private sector has created the highest number of jobs in the month of June 2024," Singh told IANS.
The final manufacturing, services and composite PMI data rose 0.4 percentage points to 60.9 in June, compared with a revised figure of 60.5 in May.
"The impact of increased business activity and increased sales is that so many jobs have been created in the private sector," Singh said.
Maitreyi Das, global economist at HSBC, said the composite flash PMI rose in June, supported by growth in both the manufacturing and services sectors, with the former recording a faster pace of growth.
"It is a matter of great joy that the record of the last 18 years has been broken and the private sector has created the highest number of jobs in the month of June 2024," Singh told IANS.
The final manufacturing, services and composite PMI data rose 0.4 percentage points to 60.9 in June, compared with a revised figure of 60.5 in May.
"The impact of increased business activity and increased sales is that so many jobs have been created in the private sector," Singh said.
Maitreyi Das, global economist at HSBC, said the composite flash PMI rose in June, supported by growth in both the manufacturing and services sectors, with the former recording a faster pace of growth.
