India's manufacturing activity rose to a 13-month high in December on strong demand and a jump in new orders. This has been revealed in a monthly survey. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) rose to 57.8 in December from 55.7 in November. This has happened due to the biggest-ever boom in business activities in the last two years.
The December data showed that overall operating conditions improved for the 18th consecutive month. In Purchasing Managers' Index (PMI) parlance, a figure above 50 indicates expansion while a figure below 50 indicates contraction.
“2022 got off to a great start,” said Pollyanna De Lima, Associate Director of S&P Global Market Intelligence. Since then, the manufacturing sector has continued to perform well. PMI activities at the end of this year have been the fastest since November 2021. '''''''' The survey said that the hiring activities were good in December. At the same time, companies made good purchases to increase their storage. "Dec 2017 saw a healthy growth in sales on the back of strong demand."
“Supply chain challenges are now less, which has increased manufacturing,” Lima said. The supply timing is stable, due to which companies were able to procure critical materials and increase their stocks. ”The report said that in terms of exports, the pace of new orders in December was the lowest in the last five months. Is. The companies saw a drop in orders from key export markets.
The report says that cost pressures on the inflation front remained almost constant in December with only a marginal difference in the rate of inflation as compared to November. The S&P Global India Manufacturing PMI is prepared by S&P Global based on responses received from purchasing managers of 400 manufacturers. The outlook for production in the new year is positive for companies, according to the report.
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