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Informist, Wednesday, Oct. 1, 2025

 

--India Sept manufacturing PMI 57.7 vs 59.3 in Aug

 

NEW DELHI – India's manufacturing activity in September expanded at a slower pace in September compared with the previous month, with the HSBC India Manufacturing Purchasing Managers' Index falling to 57.7 from 59.3 in August, S&P Global said Wednesday. The print for August was the highest since February 2008.

 

"The rate of expansion was sharp, but eased to a four-month low. Growth was curbed by competitive conditions, anecdotal evidence showed. Likewise, production levels increased at a substantial pace that was nonetheless the weakest since May," S&P Global, which compiles the PMI, said in a release.

 

The final manufacturing PMI print for September was lower than the flash figure of 58.5, data for which was released on Sept. 23. A PMI reading of more than 50 denotes expansion in activity, while a print below it shows contraction.

 

"There was a pick-up in growth of international orders at the end of the second fiscal quarter, as Indian manufacturers welcomed improvements in demand from Asia, Europe, the Americas and the Middle East," S&P Global said.

 

In addition to favourable demand conditions, investment in marketing and better customer relations, goods and services tax cuts will also support growth, the report said. "Indian goods producers also took on extra staff in September, but the rate of job creation was modest and the slowest in a year. In fact, only 2% of companies indicated headcount growth," S&P Global said.

 

"Business confidence, as indicated by expectations for future output, showed a big jump in September, potentially reflecting optimism about the boost in demand from the cuts in goods and services tax (GST), although US tariffs remain a strong headwind to the economy," Pranjul Bhandari, chief India economist at HSBC, said in the release.

 

"New export orders increased at a faster rate in September, indicating demand outside of the US might be offsetting any decline in demand from the US as a result of tariffs," the release said, quoting Bhandari.  End

 

Reported by Sagar Sen

Edited by Tanima Banerjee

 

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