Rapid Fire
Manufacturing Purchasing Managers’ Index
- 05 Apr 2024
- 1 min read
According to a survey released by Hong Kong and Shanghai Banking Corporation Limited (HSBC), India's Manufacturing Purchasing Managers’ Index (PMI) reached a 16-year peak of 59.1 in March 2024.
- PMI is an economic indicator, which is derived after monthly surveys of different companies. It shows trends in both the manufacturing and services sector.
- A PMI above 50 represents an expansion when compared with the previous month.
- It helps in determining whether the market conditions, as seen by purchasing managers, is expanding, contracting or staying the same.
- It is used to provide information regarding the current and future business conditions.
- The HSBC India Manufacturing PMI is compiled by S&P Global.
Read more: Purchasing Managers’ Index, The Making of A Manufacturing Hub
