India's manufacturing sector, as per the HSBC India Manufacturing PMI®, soared to a 16-year high of 59.1 in March, reflecting robust expansion. Notably, new orders and output surged , with growth across consumer, intermediate, and investment goods sectors. Input purchases rose significantly, indicating preparations for future sales uptick. Despite increased costs for materials like cotton and steel, output charge inflation softened. The outlook remains optimistic, with 28% of firms forecasting growth. The data suggests strong momentum in manufacturing, underpinning a positive economic outlook, contingent on managing cost pressures and sustaining growth. India's Services PMI for March 2024 surged to 61.2, indicating robust expansion in the service sector , with the Business Activity Index marking one of the strongest growth rates in over 13-and-a-half years. New order intakes soared, with a notable uptick in new export business, expanding at the fastest rate since Septemb...
The specific focus of the Blog is on Global and Domestic interest rates and currencies market. I look at fundamentals to define my bias and corroborate that with a study of price action to put on high conviction trades. The views and opinions are those of author and author alone. ~ Author: Vaishali Bagchi