New Delhi: India’s manufacturing activity eased to an eight-month low in September. The HSBC final India Manufacturing Purchasing Managers Index (PMI), compiled by S&P Global, stood at 56.5 in September. It is down from 57.5 in August, 58.1 in July, 58.3 in June, 57.5 in May, and 58.8 in April. This is weakest since January 2024.
However, the index has remained above its long-term average and the 50-point mark – which separates contraction from expansion – for nearly three years. The September data revealed a mild setback in manufacturing growth across India with rates of expansion in factory production and sales receded for the third straight month.
The HSBC Global India Services PMI is compiled from responses to questionnaires sent to about 400 service sector companies. The PMI data is an indicator of the health of the economy. It serves as a crucial economic health indicator.
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%).
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