India Composite PMI

Last Release

Jul 31, 2024

Actual

60.7

Units In

Points

60.9

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
61.9 Jul 2023	7.2 Apr 2020	52.95 Points	2013-2024	Markit Economics

In India, the Nikkei India Composite Output Index is a weighted average of the Manufacturing Output Index and the Services Business Activity Index and tracks business trends across private sector activity, based on data collected from a representative panel of around 800 companies. The index tracks variables such as sales, new orders, employment, inventories and prices. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining. .

Latest Updates

The HSBC India Composite PMI edged up to 58.6 in October 2024, from 58.3 in the previous month and remained well above its long-run average of 54.7. This reflects the continued robust growth of India's private sector, driven by expansions in both factory production (57.4 vs 56.5 in September) and services activity (57.9 vs 57.7). Total new orders expanded at a faster pace, driven by an improvement in international demand for Indian goods and services. In addition, employment growth was sharp and the quickest in 18-and-a-half years, with hiring activity more pronounced in the services sector. On the price front, input cost inflation rose to its highest level in three months, amid slight upticks in prices observed among both goods producers and service providers. Looking ahead, the level of optimism decreased but remained above its long-run average.