Manufacturing PMI Stays In Healthy Zone

New Delhi: India’s manufacturing sector continued its healthy performance in May, with the HSBC India Manufacturing Purchasing Managers’ Index (PMI) recording a reading of 57.6, it said on Monday.

While slightly lower than April’s 58.2, the index remains well above the neutral 50 mark -- signifying sustained expansion in the sector, according to data compiled by S&P Global. “India’s May manufacturing PMI signalled another month of robust growth in the sector,” said Pranjul Bhandari, Chief India Economist at HSBC.

“The acceleration in employment growth to a new peak is certainly a positive development. Input cost inflation is picking up, but manufacturers seem to be able to lessen the pressure on profit margins by raising output prices,” she added.