The HSBC India Manufacturing Purchasing Managers' Index (PMI) witnessed a slight decrease in September 2024, dropping to 56.7 from its previous figure of 57.5. The updated data, released on 23 September 2024, highlights a moderate slowdown in growth within the manufacturing sector.
Despite the dip, the PMI remains firmly above the 50-mark, indicating continued expansion in manufacturing. Analysts suggest that while the decline from the previous month's peak indicates a cautious market sentiment, the sector is still showing health and resilience.
Market watchers will be scrutinizing upcoming PMI reports to gauge whether this minor fluctuation is indicative of a more prolonged trend or merely a temporary adjustment within the Indian manufacturing landscape.
