Purchasing Managers Index (PMI)

India’s manufacturing sector activity surged in March with new orders and output levels rising at the fastest pace since October 2020.

It lifted the HSBC India Manufacturing Purchasing Managers Index (PMI) to a 16-year high of 59.1 from 56.9 in the previous month.

PMI is an index that measures the month-over-month change in economic activity within the manufacturing sector.

A reading of over 50 on the index indicates growth in activity levels and is calculated for both manufacturing and services.

The Purchasing Managers Index is a measure of the prevailing direction of economic trends in manufacturing.