India clocks record rise in exports, employment at 18-year high in May: PMI data

In May, the Indian economy saw a historic increase in exports and the highest job growth since 2006, per HSBC Flash PMI data. This period marked strong private sector output, led by manufacturing but significantly boosted by the service sector. The report also noted increased business confidence and rising input costs.

India clocks record rise in exports, employment at 18-year high in May

The Indian economy clocked a record rise in exports and the sharpest upturn in employment in nearly 18 years in May, according to HSBC Flash Purchasing Manager's Index (PMI) data released on Thursday.

The PMI data, compiled by S&P Global, indicated the third-strongest upturn in private sector output since July 2010. Although the manufacturing industry continued to lead the growth of both sales and output, it was the service economy that was responsible for the latest acceleration in overall economic expansion.