Manufacturing PMI rises to 57.8 in December; greatest extent in over 2 yrs


India’s manufacturing activity improved to the greatest extent in over 2 years, according to the  S&P Global PMI data. Manufacturing PMI rose to 57.8 in December, as against 55.7 in November. 

“At 57.8 in December, up from 55.7 in November, the seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) pointed to a robust improvement in the health of the sector that was the best seen since October 2020. The PMI average for the third fiscal quarter (56.3) was the highest recorded since one year ago,” said S&P. 

Business conditions improved to the greatest extent in over two years, while panellists continued to obtain healthy inflows of new business, and stepped up production to the greatest extent since November 2021. Hiring activity was stretched too, it said, adding that input cost inflation was sustained. There was a quicker increase in selling prices. 

(More details to be added)

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