New Delhi: A report published by rating agency revealed that the manufacturing Purchasing Managers’ Index (PMI) in India has touched a 13-month high in December, 2022. S&P Global India Manufacturing PMI was at 57.8 in December. It is the highest since November 2021. India Manufacturing PMI was at 55.7 in November, 2022.
The India Manufacturing Purchasing Managers’ Index (PMI) signalled the strongest improvement in operating conditions since October 2020. The PMI average for the third quarter of the current fiscal year was the highest recorded in a year.
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The PMI is a weighted average of the five indices, namely New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%), and Stocks of Purchases (10%). The index is compiled by S&P Global from responses to questionnaires sent to purchasing managers in a panel of around 400 manufacturers.
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