Despite falling from December’s two-year record of 54.5 to 52.9, the headline HSBC India Purchasing Managers’ Index (PMITM) –
a seasonally adjusted indicator designed to give an accurate overview of manufacturing operating conditions–
remained consistent with a solid improvement in business conditions in January. Moreover, the latest expansion was the fifteenth in as many months.
Sector data highlighted consumer goods as the best performing of the three market groups for the third month in a row.
The overall improvement in the Indian manufacturing sector was underlined by further output growth in January.
Production rose at a robust pace, extending the current sequence of expansion to 15 months.
Survey responses generally attributed higher output to stronger order books.
Growth of output and new business continued to have little impact on employment in January, as workforce numbers rose only marginally during the month.
Concurrently, backlogs of work rose at the fastest rate in a year, with some companies commenting on capacity pressures being applied by rising order book volumes.
a seasonally adjusted indicator designed to give an accurate overview of manufacturing operating conditions–
remained consistent with a solid improvement in business conditions in January. Moreover, the latest expansion was the fifteenth in as many months.
Sector data highlighted consumer goods as the best performing of the three market groups for the third month in a row.
The overall improvement in the Indian manufacturing sector was underlined by further output growth in January.
Production rose at a robust pace, extending the current sequence of expansion to 15 months.
Survey responses generally attributed higher output to stronger order books.
Growth of output and new business continued to have little impact on employment in January, as workforce numbers rose only marginally during the month.
Concurrently, backlogs of work rose at the fastest rate in a year, with some companies commenting on capacity pressures being applied by rising order book volumes.
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