Submission Statement: India’s September flash PMI points to a renewed pickup in activity after a few softer months: manufacturing rose to a seven-month high, services strengthened, and the composite PMI climbed to 56.5. That follows 7.8% real GDP growth in Q1 FY27, with household consumption and investment remaining fairly resilient despite ~$100 Brent and renewed Middle East uncertainty.
The interesting part is the composition: goods producers are leading the latest acceleration, new orders are strengthening, and firms are still adding jobs. Inflation and a possible RBI hike remain the obvious near-term constraints, but so far the higher-energy-price shock appears to be slowing India much less than one might have expected.
2 Comments
Submission Statement: India’s September flash PMI points to a renewed pickup in activity after a few softer months: manufacturing rose to a seven-month high, services strengthened, and the composite PMI climbed to 56.5. That follows 7.8% real GDP growth in Q1 FY27, with household consumption and investment remaining fairly resilient despite ~$100 Brent and renewed Middle East uncertainty.
The interesting part is the composition: goods producers are leading the latest acceleration, new orders are strengthening, and firms are still adding jobs. Inflation and a possible RBI hike remain the obvious near-term constraints, but so far the higher-energy-price shock appears to be slowing India much less than one might have expected.
!ping IND