Private sector activity gathers pace in May, job creation highest in 18 years

India's private sector activity surged in May, marking the third strongest increase since July 2010, as per a private survey. The HSBC Flash India Composite Output Index climbed to 61.7, with both manufacturing and services sectors showing robust expansion. New export orders reached their highest level since September 2014. While manufacturing activity slightly eased, services sector growth accelerated to its fastest pace in four months.