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Charts & Analysis

July PMI for 2013 Contracts, A Four Year Low

India’s Purchasing Managers Index (PMI) for July 2013 came in at 48.4 (composite of Manufacturing and Services) the lowest since 2009.

HSBC India Composite Output PMI Jul 2013

 

Numbers below 50 indicate contraction, and while we had a scare of contraction in 2009, we rebounded fast. In the face of scams, a diving rupee and tight liquidity we are likely to go down further.

  • Punit Gupta says:

    With the US economy bouncing and euphoria build up (and hence increased consumer spending) how likely is it for India to follow the lead? Please correct me if I am wrong but isn’t PMI reading a lagging indicator for economy?