Key Points
The manufacturing sector in India closed out FY24 a "stellar performance" in March, a private survey showed, as companies stepped up hiring in response to strong production and new orders...
The HSBC India Manufacturing PMI rose to a 16-year high of 59.1 in March, from 56.9 in February..
While this number was the highest since February 2008, it was lower than HSBC's preliminary estimate of 59.2..
"(This) was on the back of the strongest increases in output and new orders since October 2020, parallel to the second-sharpest upturn in input inventories in the history of the survey," the firm said in a press release on Tuesday...
However, survey showed that while Indian companies were optimistic about a few things, the overall sentiment slipped to a four-month low as worries of inflation continued to weigh on their confidence..
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