India Manufacturing PMI

Last Release

Mar 31, 2024

Actual

59.2

Units In

Points

56.9

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
59.2 Mar 2024	27.4 Apr 2020	52.74 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 increased to 59.2 in March 2024 from a final 56.9 in the previous month, boosted by robust demand, preliminary figures showed. It was the fastest growth in factory activity since February 2008, as output and new orders grew the most in nearly three-and-a-half years. Buying levels rose significantly to the strongest in nine months. This aided firms' restocking efforts, with input inventories expanding the most since May 2023. Employment climbed at a moderate pace. On the price front, input price inflation accelerated to a five-month high while output cost inflation eased to a 13-month low. Finally, business sentiment improved.