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Opinion

HSBC India Manufacturing PMI: Up at 57.9

HSBC’s India Purchase Managers’ Index (PMI) is up to 57.9 from last month’s 56.8. The PMI is an imageearly indicator, which quantifies the orders received by firms. India gets two PMIs – Manufacturing and Services. Anything about 50 is "expansion" or, in understandable language: good.  Below 50 is bad, or "contraction".

We’ve been above 50 for a good while now, and there seems to be no real impact of this inflation control that RBI seems to be talking about, on orders received by manufacturers.

In their press release:

Key points
• New export orders rose at fastest pace in three months.
• Staffing levels down slightly for second month running.
Input cost inflation fastest in series history.

(Emphasis mine)