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.