BENGALURU - India's private sector output grew at the fastest pace in four months, preliminary readings from a survey showed, helping the economy end 2024 on a positive note underpinned by sturdier demand in services and manufacturing and record jobs growth.
The 50-level separates growth from contraction and the business activity index has been above 60 in all but three months this year. Such strength hasn't been seen since 2008 when the global financial crisis hit, suggesting strong private sector expansion. A stronger rise in demand was mainly reflected in the PMI for the dominant services sector, which rose to a four-month high of 60.8 from 58.4 in November, while the index for manufacturing was 57.4, up from 56.5 last month.
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