The IHS Markit India Manufacturing PMI increased to 52 in August 2020 from 46 in the previous month, easily beating market consensus of 48.2. The latest reading pointed to the first monthly expansion in factory activity since March, led by an improvement in customer demand as client businesses reopened following the easing of lockdown restrictions. Output and new orders expanded at the fastest pace since February, while the job shedding continued for a fifth consecutive month. At the same time, the rate of increase in backlogs was the fastest since December 2012. On the price front, input costs rose for first time since March and by the most since November 2018, due to higher raw material prices. Meanwhile, output charges fell again due to competitive pressures and efforts to boost sales. Looking ahead, Indian manufacturers remained optimistic for the next 12 months.

Manufacturing PMI in India averaged 51.43 points from 2012 until 2020, reaching an all time high of 55.30 points in January of 2020 and a record low of 27.40 points in April of 2020. This page provides the latest reported value for - India Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. India Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Markit Economics

Manufacturing PMI in India is expected to be 52.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in India to stand at 52.00 in 12 months time. In the long-term, the India Manufacturing PMI is projected to trend around 51.00 points in 2021, according to our econometric models.

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India Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
52.00 46.00 55.30 27.40 2012 - 2020 points Monthly
SA


News Stream
India Manufacturing Sector Returns to Growth
The IHS Markit India Manufacturing PMI increased to 52 in August 2020 from 46 in the previous month, easily beating market consensus of 48.2. The latest reading pointed to the first monthly expansion in factory activity since March, led by an improvement in customer demand as client businesses reopened following the easing of lockdown restrictions. Output and new orders expanded at the fastest pace since February, while the job shedding continued for a fifth consecutive month. At the same time, the rate of increase in backlogs was the fastest since December 2012. On the price front, input costs rose for first time since March and by the most since November 2018, due to higher raw material prices. Meanwhile, output charges fell again due to competitive pressures and efforts to boost sales. Looking ahead, Indian manufacturers remained optimistic for the next 12 months.
2020-09-01
India Manufacturing Activity Shrinks for 4th Month
The IHS Markit India Manufacturing PMI declined to 46.0 in July 2020 from 47.2 in the previous month, below market consensus of 47.8. The latest reading pointed to a fourth straight monthly contraction in factory activity, as some business remained closed amid coronavirus lockdown extensions. Output shrank at a slightly faster rate amid weaker demand conditions. Also, new orders continued to fall markedly, still slower than at the height of the current crisis and export sales dropped further albeit at the softest pace in four months. The job shedding rate was little-changed from June and faster than any recorded prior to the coronavirus pandemic. On the price front, input prices continued to drop, still at the slowest pace in the current four-month sequence of falling cost, and output charges declined further. Lastly, business confidence improved to a five-month high, but still well below the historical average.
2020-08-03
India Manufacturing Shrinks for 3rd Month
The IHS Markit India Manufacturing PMI increased to 47.2 in June 2020 from 30.8 in the previous month, easily beating market consensus of 37.5. Despite the rise, the latest reading pointed to a third straight monthly fall in the health of the manufacturing sector, albeit one that was far softer than registered in April and May. Both output and new orders fell at slower rates, while export sales dropped for the fourth month in a row. At the same time, employment shrank further, with the rate of workforce contraction remaining among the quickest since data collection began in March 2005. On the cost front, input prices continued to fall. The rate of decrease accelerated from May, but remained far softer than April's survey record. Amid falling cost burdens, manufacturers opted to continue cutting their average output prices. Lastly, business confidence improved to a four-month high.
2020-07-01
India Manufacturing PMI Second-Lowest on Record
The IHS Markit India Manufacturing PMI increased to 30.8 in May 2020 from a record low of 27.4 in the previous month, but far below market consensus of 38. The latest reading pointed to another substantial deterioration in business conditions, amid the ongoing national lockdown. Output and new orders fell at softer rates, with new business from abroad plunging further in May. In addition, firms reduced their staff numbers at the quickest pace since the series began in 2005. On the price front, both input costs and output charges were lowered markedly as suppliers and manufacturers themselves offered discounts in an attempt to secure orders. Finally, the degree of business optimism remained historically subdued even as manufacturers expected a return to growth once all coronavirus-related restrictions are lifted.
2020-06-01

India Manufacturing PMI
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.