The IHS Markit India Manufacturing PMI rose to 58.9 in October 2020 from 56.8 in September, easily beating market consensus of 55.4. The latest reading pointed to the strongest improvement in the health of the sector in over a decade, amid ongoing relaxation of COVID-19 restrictions. Output expanded by the most since late-2007 and new order growth hit its highest level since mid-2008, with export sales rising at a quicker pace. Meantime, payroll numbers were lowered due to government guidelines related to the pandemic, while backlogs of work rose the least in the current six-month period of accumulation. Pressure on supplier capacity subsided, as indicated by the slowest rise in delivery times for seven months. Inflationary pressures, meantime, remained subdued as seen by a modest increase in input costs and only marginal rise in selling prices. Finally, business confidence was at a 50-month high. source: Markit Economics
Manufacturing PMI in India averaged 51.56 points from 2012 until 2020, 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 November of 2020.
Manufacturing PMI in India is expected to be 50.80 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 51.00 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.