Pranjul Bhandari, Chief India Economist at HSBC, said, "India registered a 58.1 manufacturing PMI in March, up substantially from 56.3 during the previous month. Although international orders slightly slowed, overall demand momentum remained robust, and the new orders index recorded an eight
India's manufacturing sector continued to expand in February, although at a slower pace compared to January, according to the HSBC India Manufacturing Purchasing Managers' Index (PMI) released by S&P Global.
"India's final manufacturing PMI marked a six-month high in January. Domestic and export demand were both strong, supporting new orders growth. The employment PMI suggested robust job creation in the manufacturing industry, as the index increased to its highest level since the series was cre
The figure, down slightly from November's 56.5 and below the 'flash' estimate of 57.4, still signaled robust growth as it remained above the long-term average of 54.1. However, the data highlighted signs of moderation in key areas, including production, new orders, and inventories.
The manufacturing sector led the growth, with the HSBC Flash India Manufacturing PMI climbing to 57.4 from 56.5, while the Manufacturing Output Index reached 60.1, up from 59.8.
Although the index remains firmly in expansion territory, this marks the weakest performance since January 2024. The moderation in growth reflects a broader trend in the second fiscal quarter, with the average PMI reading hitting its lowest level since the three months ending December 2023.
India's Manufacturing Purchasing Managers' Index (PMI) saw a slight decline in August, falling to 57.5 from 58.1 in July, according to a report HSBC India Manufacturing PMI.
The Indian stock market on Monday will be driven by favourable global cues and domestic economic data such as the HSBC India Manufacturing PMI and HSBC India Services PMI, as per the market analysts.
India's manufacturing sector demonstrated impressive resilience in July 2024, as indicated by the HSBC India Manufacturing PMI report, which recorded a strong reading of 58.1 in July.
The HSBC final India Manufacturing Purchasing Mangers' Index, compiled by S&P Global showed, that it fell from 58.8 in April to 57.5 in May, signalling slow in manufacturing activities. The HSBC India Manufacturing PMI® is compiled by S&P Global from responses to questionnaires