S&P Global: India manufacturing index falls from August peak

The HSBC India Manufacturing Purchasing Managers’ Index (PMI) dropped from 57.5 in August to 56.5 in September 2024, showing a strong growth albeit the slowest since January.

Manufacturing growth softened in the second fiscal quarter, with the average PMI reading at its lowest since December 2023. Positive demand trends, effective advertising, and client interest drove sales growth.

However, competition and a slower increase in new export orders limited overall sales growth. The expansion rate was moderate, the least in a year-and-a-half, as per a latest data published by S&P Global on Tuesday.

Attribution: S&P Global report

Subediting: M. S. Salama