FX.co ★ India Composite PMI Revised Higher

India’s HSBC Composite PMI climbed to 59.3 in May 2026, exceeding the preliminary estimate of 58.1 and marking its highest level since November. This was also up from 58.2 in April, indicating a stronger expansion in private-sector activity. Growth quickened in both manufacturing and services, underpinned by robust demand and sustained business momentum. Total new orders rose at the fastest pace in six months, underscoring solid underlying economic activity. At the same time, inflationary pressures showed signs of easing. Output charge inflation slowed, with overall selling prices increasing at the weakest rate since January, broadly in line with the long-run average. Input cost inflation also moderated, though it remained above both output price inflation and its historical trend.