India’s manufacturing sector activity rose to a 13-month high in December, supported by healthy inflows of new business and strong demand conditions, according to a monthly survey.
The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) stood at 57.8 in December, up from 55.7 in November, as business conditions improved to the greatest extent in over two years.
The December PMI data pointed to an improvement in overall operating conditions for the 18th straight month. In PMI parlance, a print above 50 means expansion while a score below 50 indicates contraction.
“Following a promising start to 2022, the Indian manufacturing industry maintained a strong performance as time progressed, wrapping the year with the best expansion in production seen since November 2021,” Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence, said.
Hiring activity was stretched to December, while more inputs were acquired as firms sought to supplement production and add to their inventories.