NEW DELHI: India's manufacturing industry grew again in December 2021, despite at a slower rate than in previous months. The headline IHS Markit India Manufacturing Purchasing Managers' Index (PMI) was 55.5, seasonally adjusted (index reading).
The PMI scale runs from 0 to 100, with a number of more than 50 indicating an overall improvement over the previous month. The headline seasonally adjusted index has risen to 57.6 in November 2021, while the most recent quarterly reading was 56.3. According to the PMI data, manufacturers saw a continued increase in new orders in December, despite claims of robust demand conditions, fruitful marketing, and new client wins. The recovery was rapid, despite being the slowest since September, according to the report. Similarly, production increased quickly but remained at its lowest level in three months.
"The final PMI results for the Indian manufacturing sector in 2021 were optimistic, with firms securing new work from both domestic and overseas sources, indicating that the economic recovery was continuing. Higher sales fueled an increase in production, and businesses continued their restocking efforts "Pollyanna De Lima, IHS Markit's Economics Associate Director, said as much.