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India’s manufacturing PMI hits 3-month high in November

New Delhi: A report published by rating agency revealed that the manufacturing Purchasing Managers’ Index (PMI) in India has touched a 3-month high in last month. S&P Global India Manufacturing PMI was at 55.7 in November. It was at 55.3 in October.

It  was also above its long-run average of 53.7.  The indices vary between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month, and below 50 an overall decrease.

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The PMI is a weighted average of the five indices, namely  New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%), and Stocks of Purchases (10%). The index is compiled by S&P Global from responses to questionnaires sent to purchasing managers in a panel of around 400 manufacturers.

 

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