Manufacturing PMI edges up to 55.7 in November 2022
India's manufacturing sector activity continued to gain momentum in November, while cost pressures for the sector eased "considerably".
According to the S&P Global, India's manufacturing Purchasing Managers' Index edged up to 55.7 from 55.3 in October, data released on December 1 showed.
A reading above 50 indicates expansion in activity, while a sub-50 print is a sign of contraction.
This is the 17th consecutive 50-plus print for the manufacturing PMI.
"It was business as usual for goods producers, who lifted production volumes to the greatest extent in three months amid impressive evidence of demand resilience. New orders and exports expanded markedly in the latest month," noted Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence.
India's GDP growth fell to 6.3 percent in July-September
The latest PMI reading comes a day after data released by the statistics ministry showed India's GDP growth fell to 6.3 percent in July-September from 13.5 percent in April-June. While a sharp fall in growth was expected due to the fading away of a favourable base effect, economists were surprised by a 4.3 percent year-on-year contraction in the gross value added of the manufacturing sector in the last quarter.
