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The HSBC Flash India PMI estimates for May revealed that the private sector clocked the third-strongest output in the month seen since July 2010. The Flash India Services PMI Business Activity Index stood at 61.4 in May, whereas the final services PMI data for April stood at 60.8. The PMI data for March was slightly higher at 61.8.

On the other hand, the manufacturing sector clocked strong growth in terms of sales and output in the month. The HSBC Flash India Manufacturing PMI estimates for May stood at 58.4, slightly lower than the final PMI figure of 58.8 in April. 

The survey noted, “Services firms recorded a sharp increase in business activity, the steepest in four months, while factory production
rose at the slowest pace since February. Nevertheless, manufacturing continued to record a stronger rate of growth than services.”

The HSBC Flash India PMI data is compiled by S&P Global from responses to questionnaires shared to survey panels of nearly 400 manufacturers and 400 service providers. The Flash data is calculated from 80 to 90 per cent of the overall responses and is intended to provide an accurate early insight of the final data for the month.

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