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Manufacturing Purchasing Managers Index

Manufacturing Purchasing Managers Index:

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.