The IHS Markit India Manufacturing PMI rose to 55.3 in January 2020 from 52.7 in the previous month, easily beating market consensus of 52.8. The latest reading pointed to the strongest pace of expansion in the sector in nearly eight years, as output grew the most for over seven-and-a-half years and new business rose the most in five years boosted by the steepest increase in exports since November 2018. Also, employment growth accelerated to the strongest in seven-and-a-half years. On the price front, both input costs and output charges rose at a softer rate. Finally, business optimism strengthened due to higher demand, new client wins, marketing efforts, capacity expansion and new product releases.
Manufacturing PMI in India averaged 51.97 points from 2012 until 2020, reaching an all time high of 55.30 points in January of 2020 and a record low of 47.90 points in July of 2017. 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. source: Markit Economics
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 50.80 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.