The Manufacturing Sector in India Sees Strong Growth in June
In June, the manufacturing sector in India experienced a significant recovery, driven by solid demand, leading to the highest rate of job creation in 19 years, as per a recent survey. The HSBC India Manufacturing Purchasing Managers’ Index rose from 57.5 in May to 58.3 in June, indicating a notable improvement in business conditions. This index is compiled from responses to questionnaires sent to 400 manufacturing companies, where the 50-point mark separates expansion from contraction.
The survey revealed that manufacturing output saw a rapid increase in June, surpassing the growth seen in May. This was attributed to favorable underlying demand and a continuous flow of new business. The consumer goods industry performed exceptionally well, with significant growth also observed in the intermediate and investment goods categories.
This surge in manufacturing activity signals a promising outlook for the sector in India, highlighting its resilience and ability to adapt to changing market dynamics. With job creation reaching a 19-year high, the future looks bright for manufacturers in the country.
Stay tuned for more updates on the manufacturing sector and its impact on the Indian economy.
