Record January Expansion Metrics
HSBC Composite PMI rocketed to 59.5—the highest in 11 months—led by manufacturing’s 56.8 print reflecting robust domestic orders and four-month peak export growth despite US tariff overhangs. Services PMI climbed to 59.3, with MSME hiring resuming after December stagnation amid moderated input inflation.
Operational Optimism Peaks Pre-Budget
Business confidence hit three-month highs, forecasting 15% capex acceleration if February 1 announcements deliver on ECLGS 3.0 and infra status for logistics. Capital goods MSMEs reported 25% order book bulges.
Margin Pressures and Strategic Responses
Output price inflation at three-month peak prompts 40% firms to accelerate digital pricing tools. Export resilience via FTAs underscores need for RoDTEP enhancements targeting $100 billion incremental shipments.
