HSBC India Manufacturing Purchasing Managers' Index

Overview

The HSBC India Manufacturing Purchasing Managers' Index (PMI) is a monthly survey conducted by S&P Global that measures the health of the Indian manufacturing sector. It is based on responses from over 400 companies in the manufacturing sector, and it provides insights into production, new orders, employment, and overall business conditions.

Key Findings

The HSBC India Manufacturing PMI for August 2023 was 56.2, indicating continued expansion in the manufacturing sector. This marks the 13th consecutive month of expansion, with the PMI remaining above the 50 mark that separates expansion from contraction.

Production

Production levels increased for the 13th consecutive month, with companies reporting higher output due to increased demand and improved business conditions.

New Orders

New orders also increased, with companies reporting a rise in both domestic and export orders. This suggests that demand for Indian manufactured goods remains strong.

Employment

Employment levels increased for the seventh consecutive month, with companies hiring more workers to meet rising demand. This is a positive sign for the Indian labor market.

Outlook

The HSBC India Manufacturing PMI suggests that the manufacturing sector is continuing to expand, supported by strong demand and improved business conditions. The PMI is a forward-looking indicator, and its continued expansion suggests that the Indian manufacturing sector is expected to perform well in the coming months.