India’s March Manufacturing PMI at 16-year high

India’s manufacturing sector activity, HSBC Purchasing Managers’ Index (PMI), for the month of March came in at 59.1, the highest in 16 years. As per S&G Global the growth was aided by an increase in output and new orders, which were the most since October 2020.

In Purchasing Managers’ Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction. The HSBC India Manufacturing PMI is compiled by S&P Global from responses to questionnaires sent to purchasing managers in a panel of manufacturers.

India’s manufacturing sector growth climbed to a five-month high of 56.9 in February, amid a sharper uptick in factory production and sales, supported by both domestic and external demand, a monthly survey said on Friday.