India Manufacturing PMI2012-2021 Data | 2022-2023 Forecast | Calendar | Historical

The IHS Markit India Manufacturing PMI declined to 52.3 in August 2021 from 55.3 a month earlier and below market consensus of 55, indicating a softer rate of growth that was subdued in the context of historical survey data. Both output and new orders growth eased, amid the coronavirus pandemic and rising input prices. Meanwhile, new export orders increased, with the pace of expansion was only marginal. At the same time, employment slipped back into contractionary in August, after growing in July for the first time in 16 months, with backlogs declined at a slight pace. Prices data showed input cost inflation eased, while output cost inflation accelerated to a three-month high, but was below that seen for input costs. Lastly, business confidence remained subdued, due to concerns surrounding the damaging impact of COVID-19 on demand and firms' finances.

The IHS Markit India Manufacturing PMI surged to 55.3 in July 2021 from 48.1 a month earlier and above market consensus of 50.5. The latest reading pointed to the strongest growth in the sector since April, as output, new orders, exports, quantity of purchases and input stocks all returned to expansion territory. At the same time, employment rose marginally, ended a 15-month sequence of job shedding. Also, the buying activity growth was solid by historical standards. Prices data showed input cost inflation eased to a seven-month low but remained above its long-run average. As a result, selling prices inflation slowed to the weakest in 2021 so far. Lastly, confidence strengthened from June's 11-month low, but remained historically subdued as some companies were concerned about the path of the pandemic.

The IHS Markit India Manufacturing PMI fell to 48.1 in June 2021 from 50.8 a month earlier. The latest reading pointed to the first contraction in the manufacturing sector since July last year, as a harsh resurgence of COVID-19 and stricter lockdown measures negatively impacted demand. Both output and new orders shrank. New export orders decreased for the first time in ten months. Also, buying levels dropped the most since the series began in March 2005. At the same time, employment fell marginally, with backlogs decreasing for the second consecutive month. June data continued to signal lengthen supplier delivery times, with vendor performance worsening for the fourth straight month. Prices data showed input cost inflation eased to a five-month low while selling prices inflation slowed to a three-month low. Lastly, confidence dropped over uncertainty when the pandemic can be brought under control.

The IHS Markit India Manufacturing PMI fell to a ten-month low of 50.8 in May 2021 from 55.5 a month earlier and missing market consensus of 52.0, amid a harsh resurgence of COVID-19 cases in the country and its detrimental impact on the economy. Both output and new orders grew the least in ten months, while there was a substantial slowdown in the growth of input purchasing and another round of job shedding. May data continued to signal to lengthen supplier delivery times, with vendor performance worsening for the third straight month. The deterioration was linked to global shortages of raw materials and the pandemic. Prices data showed input cost inflation easing to a four-month low but remaining sharp and above its long-run average. Meantime, firms lifted their selling prices again to protect margins, with the rate of charge inflation solid but softening from April. Finally, the overall degree of optimism towards the year-ahead outlook for the output was at a ten-month low.