The S&P Global India Manufacturing PMI fell to a three-month low of 55.4 in January of 2023 from 57.8 in December while pointing to the 19th straight month of expansion. Both output and new orders grew at softer paces, with foreign sales increasing the least in ten months, while input buying also eased despite the level of growth remaining strong. Meanwhile, employment was broadly unchanged, as outstanding business volumes rose at a slight pace that was weaker than in December and historically muted. Firms pointed to a lack of pressure on the capacity of their suppliers, with delivery times shortening. On the price front, input cost inflation was at a 3-month high, linked to higher prices for items like energy, metal, and electronic components, but was well below its long-run average. Selling prices, meantime, rose further despite slowing from December. Finally, sentiment slipped to a six-month low, though remained above its long-run trend. source: Markit Economics

Manufacturing PMI in India averaged 52.29 points from 2012 until 2023, reaching an all time high of 58.90 points in October of 2020 and a record low of 27.40 points in April of 2020. This page provides the latest reported value for - India Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. India Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on February of 2023.

Manufacturing PMI in India is expected to be 54.50 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the India Manufacturing PMI is projected to trend around 53.40 points in 2024 and 52.00 points in 2025, according to our econometric models.

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India Manufacturing PMI



Related Last Previous Unit Reference
Manufacturing PMI 55.40 57.80 points Jan 2023
Services PMI 58.50 56.40 points Dec 2022
Composite PMI 59.40 56.70 points Dec 2022

India Manufacturing PMI
The S&P Global India Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 500 manufacturing companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.
Actual Previous Highest Lowest Dates Unit Frequency
55.40 57.80 58.90 27.40 2012 - 2023 points Monthly
SA

News Stream
India Factory Growth at 3-Month Low
The S&P Global India Manufacturing PMI fell to a three-month low of 55.4 in January of 2023 from 57.8 in December while pointing to the 19th straight month of expansion. Both output and new orders grew at softer paces, with foreign sales increasing the least in ten months, while input buying also eased despite the level of growth remaining strong. Meanwhile, employment was broadly unchanged, as outstanding business volumes rose at a slight pace that was weaker than in December and historically muted. Firms pointed to a lack of pressure on the capacity of their suppliers, with delivery times shortening. On the price front, input cost inflation was at a 3-month high, linked to higher prices for items like energy, metal, and electronic components, but was well below its long-run average. Selling prices, meantime, rose further despite slowing from December. Finally, sentiment slipped to a six-month low, though remained above its long-run trend.
2023-02-01
India Manufacturing Growth at 26-Month Peak
The S&P Global India Manufacturing PMI climbed to 57.8 in December 2022 from 55.7 in the prior month, pointing to the highest reading since October 2020 and marking the 18th straight month of expansion. Output growth hit a 13-month high, new orders rose the most since February 2021, and buying levels grew at the strongest pace since May 2020. Also, employment gained for the tenth month in a row, while an accumulation in outstanding business slowed. Meantime, foreign sales improved, but the pace of increase was the softest in 5 months. Lead times were unchanged, as suppliers were comfortably able to accommodate the uptick in input demand. Cost pressures were muted, with the rate of inflation little-changed and the second-slowest since September 2020. On the other hand, selling price inflation outpaced that seen for input costs for the first time in near 2-1/2 years. Finally, sentiment was upbeat, due to growth prospects that were supported by advertising efforts and solid demand.
2023-01-02
India Manufacturing PMI Highest in 3 Months
The S&P Global India Manufacturing PMI increased to a three-month high of 55.7 in November 2022 from 55.3 in the prior month, exceeding market estimates of 55.0 and staying above its long-run average of 53.7. Demand resilience boosted growth, with firms noting the quickest rise in new orders and output for three months. Also, buying levels grew at an accelerated rate as companies sought to benefit from relatively mild price pressures. Employment rose for the ninth month in a row; while outstanding business went up further despite the rate of accumulation easing. Meantime, vendor performance improved, as suppliers were able to deliver input in a timely manner. On inflation, input prices rose the least in 28 months, well below their long-run figures; while the rate of charge inflation eased to a nine-month low, with the vast majority of panelists keeping their fees unchanged. Finally, sentiment hit its highest in near 8 years, buoyed by optimism that demand would remain strong.
2022-12-01