India’s Manufacturing Sector Growth Hits Five-Month High in Feb on Robust Demand

March 1, 2024 | Author: News Desk

New Delhi, Mar 1: India’s manufacturing sector growth climbed to a five-month high in February amid a sharper uptick in factory production and sales, supported by both domestic and external demand, a monthly survey said on Friday.

The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) rose from 56.5 in January to 56.9 in February, pointing to the strongest improvement in the health of the sector since September 2023.

In Purchasing Managers’ Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction.