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India’s manufacturing PMI rises in November

Mumbai: Manufacturing activity growth  in the country reported growth in November. . The Manufacturing Purchasing Managers’ Index (PMI), compiled by S&P Global, rose to 56 last month. It was at eight-month low level of 55.5 in October. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.

‘A key feature of the latest results was a substantial easing of price pressures. Although average purchasing costs rose again, the rate of inflation eased to the lowest in the current 40-month sequence of increases and was negligible by historical standards. .Expanded capacities, rising workloads and the need to replenish stocks of finished goods collectively indicated that India’s manufacturing economy is clearly in good shape as 2023 draws to a close, with expectations for a continued strong performance in 2024,’ S&P Global said.

Also Read: Foreign portfolio investors invest Rs 9001 crore in Indian equities in November 

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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