New Delhi: India’s Manufacturing Purchasing Managers’ Index (PMI) slipped to 56.4 in December 2024. This was the lowest reading of the year. The HSBC India Services Purchasing Managers’ Index (PMI), compiled by S&P revealed this.
The reading above 50 means expansion while a score below 50 denotes contraction. At the same time, post-production inventories saw their sharpest decline in seven months, driven by strong sales volumes that significantly depleted stock levels.
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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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