Indian manufacturing growth highest in Asia, but US, UK much better
Although India's factory sector growth is modest, its pace is better than the Asian economies for which manufacturing PMIs are available
The HSBC Manufacturing Purchasing Managers’ Index (PMI) for March came in at 52.1, rising from 51.2 in February. Although growth is modest, its pace is better than the Asian economies for which manufacturing PMIs are available. A PMI higher than 50 indicates expansion from the previous month, while one below 50 denotes contraction. The Chinese, Indonesian and South Korean manufacturing sectors contracted last month.
The real action seems to be taking place in the US and the UK, which had manufacturing PMIs of 55.7 and 54.4 in March, while even the euro zone PMI came in at 52.2, indicating a modest rebound in manufacturing conditions. It’s noteworthy that growth, according to the manufacturing PMI, is currently higher in developed economies than in emerging markets.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
- Top Gainers
- Top Losers
- 52 Week High