Manufacturing data
US President Donald Trump, while imposing a tariff on India, called India’s economy a dead economy. But, now the GDP result of India’s first quarter and now the PMI of the manufacturing sector has slapped the mouth of those who say dead economy. The PMI of this sector has set a new record of growth after 17 years. Which is more than the recently released manufacturing PMI. The main reason behind this is being told to increase demand. Golbali is coming in India manufacturing sector as the demand for India’s products has increased.
According to the report of S&P Global, HSBC India Manufacturing Purchasing Manager Index (PMI) has reached 59.3 in August. Which is the highest since 2008. Not only this, it is more than the recently released manufacturing PMI. Where the PMI of China increased from 49.3 of July to 49.4 in August. At the same time, the PMI of India has reached 59.3.
PMI base
Seasternly adjusted HSBC India Manufacturing Purchase Manager Index (PMI) increased from 59.1 in July to 59.3 in August. It shows the fastest improvement in operational conditions in the last 17 and a half years. The number above 50 in PMI means that the production activity is increasing and the number below 50 means activity is decreasing. HSBC India Manufacturing PMI has been prepared by S&P Global on the basis of questions taken from about 400 manufactures.
HSBC Chief India Economist Pranjul Bhandari said that India’s manufacturing sector again reached the new high level in August, due to which the reason is rapid production. At the same time, the new orders also got the same growth as July, which is the fastest in the last 57 months.
Employment also increased
The report in the case of employment shows that jobs increased for the 18th consecutive month in August, but since November 2024, she was the lowest level. On the other hand, the Indian economy increased with a faster growth of 7.8% in the April-June quarter, which is the fastest speed in the last 5 quarters. Chief Economic Advisor (CEA) V. Anant Nageswaran said that trade tension with America is still going on. Its effect will be seen in the second quarter as more tax has started on Indian exports since August.