New Delhi: India’s manufacturing sector growth fell to a 14-month low in February. Output growth slowed to the weakest level since December 2023. The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) registered 56.3 in February. It was at 57.7 in January. In PMI parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
The HSBC India Manufacturing PMI 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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On the domestic macroeconomic front, the Indian economy grew by 6.2 per cent in the December quarter. For the full 2024-25 fiscal (April 2024 to March 2025), the government now pegs GDP growth at 6.5 per cent, marginally higher than its initial estimate of 6.4 per cent but below the revised growth rate of 9.2 per cent for 2023-24.