According to the latest data released by HSBC, the India Manufacturing Purchasing Managers' Index (PMI) maintained its strong position at 59.1 in April 2024, the same level as the previous month. This figure indicates a robust expansion in the manufacturing sector. The previous event in April also recorded a PMI of 59.1, showing consistent performance in the industry.
The HSBC India Manufacturing PMI is closely watched as a key indicator of economic health, with a reading above 50 signaling growth in the sector. The stable PMI figure suggests that the manufacturing industry in India is continuing to grow at a healthy pace, despite global economic uncertainties. Experts are optimistic about the resilience of the Indian manufacturing sector and its potential to drive further economic growth in the coming months.
