Manufacturing Surge Lifts India’s September PMI to Three-Month High
What Happened
India’s flash Composite PMI rose to 56.5 in September, up from 54.3 in August, marking the strongest expansion in private-sector activity since June. The recovery was driven by faster growth in manufacturing and services, stronger domestic demand, and a rebound in new orders. Manufacturing PMI climbed to 55.7, while the Services PMI rose to 55.8.
Key Takeaways
The data points to renewed strength in India’s economy, with manufacturing leading the upturn and hiring remaining healthy. However, export order growth slowed to its weakest pace in nearly three years, highlighting continued global demand challenges.