India’s Manufacturing Growth Hits 8-Month High: PMI
Improved Demand and New Orders Drive Manufacturing Surge
Manufacturing activity in India has reached an 8-month high, thanks to stronger demand and a surge in new orders. The HSBC India Manufacturing Purchasing Managers’ Index (PMI) increased to 58.1 in March, up from 56.3 in February.
Growth Continues Despite Slower Export Expansion
Even with a slight decrease in international order growth, companies used their inventories to fulfill the higher client demand, resulting in the fastest decline in finished goods stocks since January 2022.
- Manufacturing activity in India reached its highest level in 8 months.
- The HSBC India Manufacturing PMI rose to 58.1 in March.
- This growth was fueled by stronger demand and a surge in new orders.
- Despite slower growth in international orders, companies used inventories to meet higher client demand.
- Finished goods stocks saw their fastest decline since January 2022.
NEW DELHI: Manufacturing activity in India has reached an 8-month high, driven by stronger demand and a surge in new orders. The HSBC India Manufacturing Purchasing Managers’ Index (PMI) increased to 58.1 in March, up from 56.3 in February. This growth occurred even with a slight decrease in international order growth. Companies used their inventories to fulfill the higher client demand, resulting in the fastest decline in finished goods stocks since January 2022.
