The IHS Markit India Manufacturing PMI fell to a ten-month low of 50.8 in May 2021 from 55.5 a month earlier and missing market consensus of 52.0, amid a harsh resurgence of COVID-19 cases in the country and its detrimental impact on the economy. Both output and new orders grew the least in ten months, while there was a substantial slowdown in the growth of input purchasing and another round of job shedding. May data continued to signal to lengthen supplier delivery times, with vendor performance worsening for the third straight month. The deterioration was linked to global shortages of raw materials and the pandemic. Prices data showed input cost inflation easing to a four-month low but remaining sharp and above its long-run average. Meantime, firms lifted their selling prices again to protect margins, with the rate of charge inflation solid but softening from April. Finally, the overall degree of optimism towards the year-ahead outlook for the output was at a ten-month low. source: Markit Economics

Manufacturing PMI in India averaged 51.82 points from 2012 until 2021, reaching an all time high of 58.90 points in October 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 June of 2021.

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 52.30 in 12 months time. In the long-term, the India Manufacturing PMI is projected to trend around 51.00 points in 2022 and 50.90 points in 2023, according to our econometric models.

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India Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
50.80 55.50 58.90 27.40 2012 - 2021 points Monthly
SA


News Stream
India Manufacturing PMI Drops to 10-Month Low
The IHS Markit India Manufacturing PMI fell to a ten-month low of 50.8 in May 2021 from 55.5 a month earlier and missing market consensus of 52.0, amid a harsh resurgence of COVID-19 cases in the country and its detrimental impact on the economy. Both output and new orders grew the least in ten months, while there was a substantial slowdown in the growth of input purchasing and another round of job shedding. May data continued to signal to lengthen supplier delivery times, with vendor performance worsening for the third straight month. The deterioration was linked to global shortages of raw materials and the pandemic. Prices data showed input cost inflation easing to a four-month low but remaining sharp and above its long-run average. Meantime, firms lifted their selling prices again to protect margins, with the rate of charge inflation solid but softening from April. Finally, the overall degree of optimism towards the year-ahead outlook for the output was at a ten-month low.
2021-06-01
India Manufacturing Growth Beats Estimates
The IHS Markit India Manufacturing PMI was at 55.5 in April 2021, little-changed from 55.4 in the previous month, beating market consensus of 51.6, indicating a solid improvement in the health of the sector. Both new orders and output expanded at the slowest pace in eight months, due to an intensification of the COVID-19 crisis. Growth was attributed to a pick-up in demand and marketing efforts, though hampered by the COVID-19 pandemic. At the same time, new export orders surged to the fastest since last October and buying levels expanded at one of the sharpest rates seen for nine years. Meanwhile, employment declined for a 13th straight month and the weakest in the current sequence of job shedding. On the price front, the rate of input cost inflation accelerated to the fastest pace since July 2014, while selling prices increased to the highest in seven-and-a-half years. Finally, business sentiment strengthened in April.
2021-05-03
India Manufacturing PMI Drops to 7-Month Low
The IHS Markit India Manufacturing PMI decreased to 55.4 in March 2021, the lowest since last August, from 57.5 in the previous month. Still, the latest reading signaled a substantial improvement in the health of the sector that outpaced the long-run series average. Output and new orders expanded at sharp, albeit slower, rates. Also, new export orders increased further in March, stretching the current sequence of growth to seven months. Meanwhile, employment declined for a 12th straight month, due to COVID-19 restrictions and a lack of pressure on capacity. On the price front, the rate of input cost inflation was among the strongest seen over the past three years. However, selling prices increased only moderately as companies limited their adjustments to retain a competitive edge and boost sales. Finally, business sentiment weakened in March.
2021-04-05
India Manufacturing PMI Inches Down in February
The IHS Markit India Manufacturing PMI edged down to 57.5 in February of 2021 from a three-month high of 57.7 in the previous month and matching market consensus, still signaling a strong month of expansion in the manufacturing sector. Output and new orders continued to grow at solid rates, while employment continued to decline. On the price front, input cost inflation accelerated to a 32-month high, due to a faster rise in prices of chemicals, metals, plastics and textiles. As a result, output charges rose modestly. Finally, business sentiment remained positive, amid forecasts of an improvement in economic conditions and the lifting of restrictions as the vaccination programme expands.
2021-03-01

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.