India Manufacturing PMI

Last Release

Jul 31, 2024

Actual

58.1

Units In

Points

58.3

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
59.1 Mar 2024	27.4 Apr 2020	52.89 Points	2012-2024	Markit Economics

The IHS Markit India Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 500 manufacturing companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.

Latest Updates

The HSBC India Manufacturing PMI stood at 57.5 in October 2024, compared with the flash estimate of 57.4 and after September's reading of 56.5. Output growth accelerated amid favorable market conditions, with new orders rising at a rate stronger than the average in nearly 20 years of data collection. Also, foreign sales grew robustly after experiencing the weakest rise in 1-1/2 years in September, and buying levels continued to expand. Regarding employment, firms hired additional staff, leading to the first decline in backlogs in over a year. Meanwhile, input delivery times shortened for the eighth month, although only slightly, as the vast majority of panelists reported no change in vendor performance. On the pricing side, input costs rose the most in three months but remained below the long-run trend. Meanwhile, output prices increased solidly, outpacing the series trend. Finally, the level of positive sentiment was above the average in the over 13-1/2 year of series history.