April manufacturing PMI: India’s manufacturing activity witnessed a dip in April from the 16-year high in March. India’s manufacturing PMI fell to 58.8 in April from 59.1 in March.
The HSBC final India Manufacturing Purchasing Managers’ Index, compiled by S&P Global, despite a fall, signalled the second-best improvement in the health of the sector for 3.5 years. The PMI was comfortably above the neutral mark of 50.0 and its long-run average of 53.9.
“Operating conditions improved at the second-fastest pace in three-and-a-half years, supported by buoyant demand. Firms experienced a sharp upturn in new business intakes, and scaled up production accordingly. With sales expected to remain positive, buying levels were raised and input stocks lifted to one of the greatest extents seen in over 19 years of data collection. Cost pressures ticked higher, though remained historically mild, pushing up charge inflation to the strongest since January,” the report stated.
(More details to be added)
