The HSBC Markit Purchasing Managers’ Index (PMI) for India, for Jun 2014, with Manufacturing and Services Combined, is at a 16 month high at 53.8, up from the 50.7 we saw in May.
This is a strong number, after a great manufacturing number of 51.5 for June. (the composite PMI is the average of Services + Manufacturing PMIs).
If activity is heating up, then we should see a good GDP number too. Let’s await more data this month to check.