Healthy demand accelerates growth of India's manufacturing sector in Feb: PMI
India's manufacturing sector's growth sequentially rose in February 2022 due to robust demand.
New Delhi, March 2 India's manufacturing sector's growth sequentially rose in February 2022 due to robust demand.
Accordingly, the seasonally-adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) came in at 54.9 (index reading).
In January 2022, the seasonally-adjusted index had sequentially eased to 54 (index reading).
The PMI ranges between 0 and 100, with a reading of above 50 indicating an overall increase compared to the previous month.
"February PMI data showed another improvement in the health of the Indian manufacturing sector as firms responded to strong increases in new work intakes by lifting production, input buying and stocks of purchases," the PMI report said.
"Employment fell at the softest pace for three months, while favourable demand conditions supported an improvement in sentiment which reached the strongest since last October."
According to the PMI report, strengthening demand for raw materials led to another marked rate of input price inflation, albeit one that was the softest for six months.
Besides, the PMI report said growth has now been seen in each of the latest eight months, with the headline figure remaining above its long-run average of 53.6.