November healthy sales boost India’s manufacturing sector: PMI

Purchasing Managers’ Index (PMI) rose to 57.6 (index reading) in November as against a reading of 55.9 in October

   

Healthy sales boosted the growth of India’s manufacturing industry in November.

The headline seasonally-adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) rose to 57.6 (index reading) in November as against a reading of 55.9 in October.

Notably, the headline figure was well above its long-run average of 53.6.

The PMI ranges between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month.

As per the survey report, manufacturers stated that strengthening demand, improving market conditions and successful marketing boosted sales in November.

“The Indian manufacturing sector continued to expand strongly in November, as an accelerated rise in sales supported the fastest upturn in production for nine months,” the report said.

“Companies scaled up input buying, which in turn led to the second-quickest accumulation in stocks of purchases since data collection started nearly 17 years ago.”