The growth of India’s manufacturing sector reached an eight -month high in March, due to a rapid increase in factory order and production amidst the rise in demand. This was said in a monthly survey on Wednesday. According to PTI news, seasonally adjusted HSBC India Manufacturing Purchasing Manager Index (PMI) was at 58.1 in March, 56.3 in February, showing sufficient improvement in the region’s health that was above its long -term average.
Indication of print expansion above 50
According to the news, in February, India’s manufacturing PMI came to a 14 -month low amidst new orders and slow growth in production. In the language of PMI, a print above 50 indicates expansion, while a score below 50 reflects contractions. The growth of the manufacturing sector in India re-acquired the lost land in February, mainly due to its stronger contribution from the new order index.
Companies increase the amount of production
The survey stated that the total sales in March saw the highest growth since July 2024, in which companies commented on positive customer interest, favorable demand status and successful marketing efforts. According to this, companies increased the amount of production at the end of the 2024-25 financial year. The new export order saw strong growth in March. But the pace of development came to a three -month low.
New order index performed well
Panelists cited profit from Asia, Europe and Middle East in terms of international sales. Although the international order slowed down slightly, the demand of the demand was strong and the new order index recorded the highest level of eight months. Pranjul Bhandari, the chief India economist of HSBC, said that strong demand inspired the firms to use their inventory, leading to the fastest decline in the stock of goods prepared over three years. Due to the boom in demand, companies used their stocks to meet the growing demand of customers, resulting in the fastest decline in stock of goods prepared since January 2022.
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