India's PMI Jumps to 59.3 in February, Manufacturing Surge Boosts Private Sector Growth

• India's Composite PMI rose to 59.3 in February, up from 58.4 in January, marking a three-month high.
• The expansion was driven by robust growth in new orders, with manufacturing activity leading the acceleration.
• Manufacturing PMI climbed to 57.5, indicating stronger factory output and sales, reaching a four-month high.
• Services activity remained broadly steady at 58.4, with new business growth easing but export demand outperforming manufacturers.
• Improved sales led to faster hiring and increased business confidence, but inflationary pressures intensified with input costs rising at their fastest in 15 months.