The IHS Markit India Manufacturing PMI increased to 47.2 in June 2020 from 30.8 in the previous month, easily beating market consensus of 37.5. Despite the rise, the latest reading pointed to a third straight monthly fall in the health of the manufacturing sector, albeit one that was far softer than registered in April and May. Both output and new orders fell at slower rates, while export sales dropped for the fourth month in a row. At the same time, employment shrank further, with the rate of workforce contraction remaining among the quickest since data collection began in March 2005. On the cost front, input prices continued to fall. The rate of decrease accelerated from May, but remained far softer than April's survey record. Amid falling cost burdens, manufacturers opted to continue cutting their average output prices. Lastly, business confidence improved to a four-month high.
Manufacturing PMI in India averaged 51.48 points from 2012 until 2020, reaching an all time high of 55.30 points in January 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 July of 2020. source: Markit Economics
Manufacturing PMI in India is expected to be 52.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in India to stand at 52.00 in 12 months time. In the long-term, the India Manufacturing PMI is projected to trend around 51.00 points in 2021, according to our econometric models.