The S&P Global India Manufacturing was little-changed to 54.6 in May 2022 from 54.7 in April, compared to market consensus of 53.8. The latest reading marked the 11th straight month of expansion in the manufacturing sector, as both output and new orders grew at the same pace in the prior month, with new export orders rising to the fastest since April 2011, amid loosening of Covid-19 restrictions. At the same time, input purchasing rose sharply and the quickest since last November, with supplier delivery times further lengthening; and employment increased to the strongest since January. On the price side, input prices continued to rise due to higher prices in electronic components, energy, freight, foodstuff, metals and textiles. Meanwhile, output price inflation accelerated to an over eight-and-a-half years, as companies continued to transfer additional cost burdens to their clients. Finally, sentiment weakened to the second-lowest in just over two years on inflationary concerns. source: Markit Economics
Manufacturing PMI in India averaged 52.06 points from 2012 until 2022, 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 2022.
Manufacturing PMI in India is expected to be 54.00 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 50.90 points in 2023, according to our econometric models.