India's mfg PMI rises to 14-month high in June as new orders grow

India's manufacturing activity, as measured by the HSBC India Manufacturing Purchasing Managers' Index (PMI), rose to a 14-month high of 58.4 in June, as both output and new orders grew at a quicker pace, according to a release by S&P Global on Tuesday.

- Auhona Mukherjee

NEW DELHI:

The PMI rose 1.39% compared to 57.6 registered in May and was the highest since April 2024 when it was 58.8. The reading remained above the 50-mark, which indicates expansion over the last month and was also above the long-run average of 54.1. The index has remained above 50 for four years now.

"India's manufacturing PMI reached a fourteen-month high of 58.4 in June. Robust end-demand fuelled expansions in output, new orders, and job creation," said Pranjul Bhandari, Chief India Economist at HSBC.