The S&P Global India Manufacturing Purchasing Managers’ Index (PMI) fell in June to 53.9 from 54.6 a month back. A reading above 50 indicates expansion in activity, while a sub-50 print is a sign of contraction.
This is the 12th consecutive 50 plus print for the manufacturing PMI. “The economic recovery of the Indian manufacturing sector continued in June, aided by robust domestic and international client demand,” S&P Global said. “However, growth of total sales and production eased amid intense price pressures.” India’s economy is recovering from the pandemic-led sharp contraction a couple of years ago. The central bank expects economy to expand 7.2 percent this fiscal year. This is a developing story. Please check back for updates.