India’s manufacturing activity rose to 59.1 in July, rising from 58.4 in June, signaling the strongest improvement in the health of the sector since March 2024, data released by S&P Global on Friday showed. The PMI was comfortably above its long-run average. According to the survey, manufacturing sector conditions in India continued to strengthen in July.
What led to the growth?
Pranjul Bhandari, Chief India Economist at HSBC, said, “India recorded a 59.1 manufacturing PMI in July, up from 58.4 during the prior month. This marked a 16-month high for the Indian manufacturing sector, which benefited from strong growth in new orders and output.”
The rise in new orders and output was linked by panellists to favourable demand…
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