Manufacturing sector growth slips to 14-month low in Feb

NEW EXPORT ORDERS RISE STRONGLY

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Manufacturing sector expansion eased to a 14-month low in February, as indicated by the HSBC India Manufacturing Purchasing Managers' Index (PMI), which recorded a reading of 56.3, down from 57.7 in January. Despite the slowdown, the index remained in expansionary territory, signaling continued growth.

In PMI parlance, a print above 50 means expansion, while a score below 50 denotes contraction.

"Although output growth slowed to the weakest level since December 2023, overall momentum in India's manufacturing sector remained broadly positive in February," said Pranjul Bhandari, Chief India Economist at HSBC.