Manufacturing PMI at 14 months low – manufacturing PMI at 14 months low –

India’s manufacturing sector lost new orders and production pace in February, while the region made a strong start of the year. A private survey reported on Monday that the purchase of manufacturing managers index (PMI) has come to a 14 -month low of 56.3. It was 57.7 in January.

HSBC released this figure and compiled it by S&P Global. The language of PMI reflects the expansion of above 50 points, while the digit below 50 is a sign of contraction in activities. However, the survey stated that despite being the weakest since December 2023, the rates of expansion and sales in the reference to the 20 -year history of the survey remain high. Business conditions in all the three sub -subclass consumers, intermediate and investment goods were improved. According to the survey, ‘favorable domestic and international demand inspired firms to increase purchase activity and hiring additional workers at high-tendency rates. However, despite the reduction of cost pressure due to increase in demand, inflation reached a high level.

Pranjul Bhandari, the chief economist of HSBC in India, said, ‘India’s manufacturing PMI was slightly lower than last month in February. But this is still under the purview of expansion, as strong global demand is promoting growth in Indian manufacturing sector, which has increased purchasing activity and employment. He told, ‘Business expectations were also very strong. One third of the participants in the survey are estimated to be more products during the whole year. Although the production growth in February came to the lowest level after December 2023, India’s manufacturing sector was widely positive in this month.

The survey stated that the February data shows that the new business has increased in the 44th consecutive month, which the panel members have linked to strong customer demand and better pricing efforts than their competitors. The survey also stated that the new export order increased strongly in February, as the manufacturers continued to take advantage of the strong global demand for their goods. However, it was less than the 14 -year high of January. As a result, the manufacturers continued to expand in labor force in February and extended the current period of employment growth to one year.

First Published – March 3, 2025 | 10:14 PM IST