Economic Buzz: India Manufacturing PMI Indicates Continued Growth In The Sector

3 Oct 2022 , 10:51 AM

September PMI data from S&P Global indicated a strong improvement in the health of the Indian manufacturing industry, as companies stepped up production in tandem with a sustained increase in new work intakes. Rates of expansion remained historically high, despite easing from August. To accommodate higher sales and greater output needs, firms hired extra workers and acquired more inputs. Posting 55.1 in September, the seasonally adjusted S&P Global India Manufacturing Purchasing Managers Index (PMI) was in expansion territory for the fifteenth month in a row. The headline figure slipped from 56.2 in August, though pointed to a solid rate of growth. Factory orders continued to increase at the end of the second fiscal quarter, stretching the current sequence of expansion to 15 months. New export orders rose further in September. New orders, international sales and output increased in each of the three broad areas of the manufacturing industry. In all cases, the strongest growth rates were signaled by capital goods makers.Powered by Commodity Insights