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.

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India Manufacturing PMI

Actual Previous Highest Lowest Dates Unit Frequency
58.90 56.80 58.90 27.40 2012 - 2020 points Monthly
SA


News Stream
India Factory Growth Highest in Over A Decade
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.
2020-11-02
India Manufacturing PMI Highest in Over 8-1/2 Years
The IHS Markit India Manufacturing PMI surged to 56.8 in September 2020, the highest since January 2012, from 52.0 in August, far above market consensus of 52.8, amid an easing of COVID-19 restrictions. Output rose for the second straight month, with the growth rate being the third-quickest in the survey history. Also, there were back-to-back rises in new orders, with the rate of expansion picking up to the fastest since 2012. At the same time, overseas sales returned to growth, the first since prior to the escalation of the outbreak, while buying levels hit its strongest in over 8-1/2 years. Meantime, employment fell for the six months in a row, with backlogs of works increasing further. Delivery times lengthened for the first time in six months, amid labour and material shortages at their distributors. On the price front, there was a softer rise in input costs while output charges were broadly stabilized. Finally, sentiment improved to the highest in over four years.
2020-10-01
India Manufacturing Sector Returns to Growth
The IHS Markit India Manufacturing PMI increased to 52 in August 2020 from 46 in the previous month, easily beating market consensus of 48.2. The latest reading pointed to the first monthly expansion in factory activity since March, led by an improvement in customer demand as client businesses reopened following the easing of lockdown restrictions. Output and new orders expanded at the fastest pace since February, while the job shedding continued for a fifth consecutive month. At the same time, the rate of increase in backlogs was the fastest since December 2012. On the price front, input costs rose for first time since March and by the most since November 2018, due to higher raw material prices. Meanwhile, output charges fell again due to competitive pressures and efforts to boost sales. Looking ahead, Indian manufacturers remained optimistic for the next 12 months.
2020-09-01
India Manufacturing Activity Shrinks for 4th Month
The IHS Markit India Manufacturing PMI declined to 46.0 in July 2020 from 47.2 in the previous month, below market consensus of 47.8. The latest reading pointed to a fourth straight monthly contraction in factory activity, as some business remained closed amid coronavirus lockdown extensions. Output shrank at a slightly faster rate amid weaker demand conditions. Also, new orders continued to fall markedly, still slower than at the height of the current crisis and export sales dropped further albeit at the softest pace in four months. The job shedding rate was little-changed from June and faster than any recorded prior to the coronavirus pandemic. On the price front, input prices continued to drop, still at the slowest pace in the current four-month sequence of falling cost, and output charges declined further. Lastly, business confidence improved to a five-month high, but still well below the historical average.
2020-08-03

India Manufacturing PMI
The IHS Markit India Manufacturing Purchasing Managers’ Index measures the performance of the manufacturing sector and is derived from a survey of 500 manufacturing companies. The Manufacturing Purchasing Managers Index is based on five individual indexes with the following weights: New Orders (30 percent), Output (25 percent), Employment (20 percent), Suppliers’ Delivery Times (15 percent) and Stock of Items Purchased (10 percent), with the Delivery Times index inverted so that it moves in a comparable direction. A reading above 50 indicates an expansion of the manufacturing sector compared to the previous month; below 50 represents a contraction; while 50 indicates no change.