India’s manufacturing sector continued its expansion in February, as indicated by the HSBC Purchasing Managers’ Index (PMI) reaching 56.9, marking its highest level in five months. This data, released on March 1st, surpassed the initial estimate of 56.7 announced on February 22nd.
Consistent Expansion: The February manufacturing PMI of 56.9 extends the sector’s expansion streak for the 32nd consecutive month, remaining above the critical threshold of 50, which separates growth from contraction.
Trend Analysis: In comparison to the previous quarters, the manufacturing PMI averaged at 57.9 in July-September 2023 and 55.5 in the subsequent quarter. The first two months of 2024 have shown a consistent average of 56.7, indicating a stable performance.
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