India's private sector activity surges to four-month peak in October

India's private sector activity accelerated in October, marking the strongest performance since June, according to the latest Flash Purchasing Managers' Index released Friday. The uptick signals renewed economic vigour as businesses across manufacturing and services ramped up operations heading into the year-end quarter.

Manufacturing led the expansion, demonstrating more robust growth compared to the services sector. Factory activity benefited from increased production orders and business confidence, underpinning India's industrial momentum as global demand showed signs of stabilisation.

The services sector, while expanding, grew at a comparatively slower pace. Nevertheless, the combined performance of both segments indicates broadening economic activity across India's private sector, moving away from the narrow growth base seen in previous months.

The acceleration comes amid efforts by Indian businesses to capitalise on festive season demand and prepare for the final quarter of the financial year. Economists view the strengthening PMI reading as evidence of sustained recovery momentum in Asia's third-largest economy, though global uncertainties continue to warrant cautious optimism.

The Flash PMI serves as an early indicator of economic health, surveying purchasing managers across manufacturing and services before the release of comprehensive monthly indices.