New Delhi: India’s manufacturing sector activity accelerated to a three-month high in May, lifted by strong demand, infrastructure projects, and new business gains, according to a monthly survey released Monday.
The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index rose to 55.0 in May from 54.7 in April. The reading signals the strongest improvement in the sector’s health since February.
Survey respondents cited demand strength and fresh orders from infrastructure projects as key drivers, even as firms continued to face inflationary pressures on input costs.
A PMI reading above 50 indicates expansion in activity, while below 50 signals contraction.
