AMN
India’s manufacturing sector continued its robust performance in November this year, mainly on the back of substantial easing in price pressures and strengthening demand. A monthly survey said that the strong performance of the manufacturing sector is expected to continue in 2024 as well.
The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) rose to 56 last month from 55.5 recorded in October. Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence, said that the companies’ ability to secure new business, both domestically and from abroad, remained central to the success of the sector. Sustained new order growth continued to be good news for the sector’s labour market, with recruitment remaining on an upward path, De Lima said.
The survey is prepared by S&P Global based on responses to questionnaires sent to purchasing managers in a panel of around 400 manufacturers.