The HSBC India Manufacturing PMI came in at 58.3 in June 2024, up from May's 57.5 but slightly below both preliminary estimates and market forecasts of 58.5. The latest reading indicated a sharper improvement in business conditions, as strong demand conditions spurred the expansions in new orders, output and buying levels. At the same time, firms raised employment at the fastest rate seen in more than 19 years of data collection. Stocks of purchased materials also rose at a near-record pace, supported by another improvement in suppliers' delivery times. On prices, input price inflation eased in May, but was nonetheless among the highest since August 2022. As a result, companies lifted selling prices to the greatest extent since May 2022. Lastly, the outlook for the manufacturing sector remains positive, with firms expecting further improvements in demand and order book volumes in the year ahead. However, the future output index fell to a three-month low. source: S&P Global

Manufacturing PMI in India increased to 58.30 points in June from 57.50 points in May of 2024. Manufacturing PMI in India averaged 52.86 points from 2012 until 2024, reaching an all time high of 59.10 points in March of 2024 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 July of 2024.

Manufacturing PMI in India increased to 58.30 points in June from 57.50 points in May of 2024. Manufacturing PMI in India is expected to be 56.70 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the India Manufacturing PMI is projected to trend around 52.00 points in 2025, according to our econometric models.



Related Last Unit Reference
Business Confidence 130.30 points Mar 2024
Capacity Utilization 74.70 percent Dec 2023
Car Production 151538.00 Units Feb 2024
Car Sales 160306.00 Units Feb 2024
Changes in Inventories 544.48 INR Billion Mar 2024
Composite Leading Indicator 100.18 points May 2024
HSBC Composite PMI 60.90 points Jun 2024
Corruption Index 39.00 Points Dec 2023
Corruption Rank 93.00 Dec 2023
Deposit Growth YoY 12.60 percent Jun 2024
Electricity Production 136309.88 Gigawatt-hour Apr 2024
Industrial Production YoY 5.00 percent Apr 2024
Industrial Production Mom -7.63 percent Apr 2024
HSBC Manufacturing PMI 58.30 points Jun 2024
Manufacturing Production YoY 3.90 percent Apr 2024
Mining Production 6.69 percent Apr 2024
HSBC Services PMI 60.50 points Jun 2024
Steel Production 12200.00 Thousand Tonnes May 2024
Passenger Vehicle Sales 300795.00 Units May 2024

India Manufacturing PMI
The S&P Global 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.
Actual Previous Highest Lowest Dates Unit Frequency
58.30 57.50 59.10 27.40 2012 - 2024 points Monthly
SA


News Stream
India Manufacturing Growth Remains Strong
The HSBC India Manufacturing PMI came in at 58.3 in June 2024, up from May's 57.5 but slightly below both preliminary estimates and market forecasts of 58.5. The latest reading indicated a sharper improvement in business conditions, as strong demand conditions spurred the expansions in new orders, output and buying levels. At the same time, firms raised employment at the fastest rate seen in more than 19 years of data collection. Stocks of purchased materials also rose at a near-record pace, supported by another improvement in suppliers' delivery times. On prices, input price inflation eased in May, but was nonetheless among the highest since August 2022. As a result, companies lifted selling prices to the greatest extent since May 2022. Lastly, the outlook for the manufacturing sector remains positive, with firms expecting further improvements in demand and order book volumes in the year ahead. However, the future output index fell to a three-month low.
2024-07-01
India Manufacturing Rises At a Faster Rate
The HSBC India Manufacturing PMI increased to 58.5 in June 2024 from May's three-month low of 57.5, preliminary estimates showed. The latest reading indicated a faster expansion in the country’s manufacturing sector due to stronger growth in output and new orders. In the meantime, employment continued to increase, with the job creation faster than a month earlier. Increasing new orders raised a sharp growth in purchasing activity for the production, quicker than in May, while delivery time shortened. On the price front, output prices rose the most in a year as firms passed on higher costs to customers. Finally, business sentiment remained positive amid expectations sustained in output growth.
2024-06-21
India Manufacturing Growth Revised Lower
The HSBC India Manufacturing PMI came in at 57.5 in May 2024, below preliminary estimates and market forecasts of 58.4, down from 58.8 in the previous month. This signaled a slower but still substantial improvement in the country’s manufacturing sector, amid a softer rise in new orders and output. Companies indicated that working hours had been reduced due to intensive heatwave during the month, which may have affected production volumes. Meanwhile, new export orders increased to its highest level in over 13 years, with a broad-based demand across geography. Also, employment rose to one of the greatest extents seen since data collection started in March 2005. On the cost side, input prices rose, driven by higher raw material and freight costs. Looking ahead, manufacturers expressed the highest level of positive sentiment towards growth prospects in nearly 9-1/2 years, buoyed by advertising and innovation, alongside expectations that economic and demand conditions will remain favorable.
2024-06-03