By Admin 
India’s manufacturing PMI: Despite global uncertainties, there has been a significant increase in India’s manufacturing sector in July. The PMI index remained over 58 for the second consecutive month. The figure was 58.4 in June, which increased to 59.1 in July- this is the highest level of the last 16 months.
Manufacturing sector boom
Seasonally adjusted HSBC India Manufacturing Purchase Manager Index (PMI) increased from 58.4 of June to 59.1 in July. This is a sign of the strongest improvement in the region since March 2024. The PMI extending above 50 of the index indicates expansion in production activities, while the figure below 50 indicates contractions.
Key points in HSBC report
HSBC Chief Indian Economist Pranjul Bhandari said that the manufacturing sector growth in July was at 59.1, which is more than 58.4 in June. This increase became possible due to new orders and strong increase in production.
Sale and production at record level
According to the survey, the total sales increased at the fastest speed in about 5 years. As a result, manufacturing growth reached a 15 -month high. The survey also stated that Indian manufacturers are convinced about the increase in production in the next 12 months. However, the overall positive spirit has come to its low level in the last three years.
Pressure on cost and prices
According to the survey, the cost of raw materials increased rapidly in July. The prices of items such as aluminum, leather, rubber and steel increased, causing the cost pressure to increase. Due to the high demand situation, companies have also increased the prices of their products. The SBC India Manufacturing PMI is prepared by S&P Global based on the answers to the questions sent between about 400 manufacturing companies.
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