Manufacturing Purchasing Managers’ Index | 05 Apr 2024

Source: TH

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.