HSBC India PMI Manufacturing falls to 55.1 in September

by@FirstSquawk

Summary

HSBC reported that India's Manufacturing Purchasing Managers' Index (PMI) declined slightly to 55.1 in September, down from 55.7 the previous month. Despite this decrease, the PMI data indicates that manufacturing is continuing to lead stronger private sector activity in India. Additionally, companies have been building up their finished goods stocks in response to external uncertainties, as noted by HSBC economists.

Analysis

HSBC: HSBC is a leading global banking and financial services organization with extensive operations across Asia and emerging markets. The bank compiles and publishes Purchasing Managers' Index surveys, including the India Manufacturing PMI, which tracks business conditions in the sector. The provided news reports the latest reading from HSBC's India PMI Manufacturing survey for September. Inventory Trends: Companies built up finished goods stocks amid external uncertainties, according to HSBC economist comments. Manufacturing Momentum: Recent HSBC PMI data showed manufacturing leading stronger private sector activity in India.

Categories

macro

Related sources

View Original Tweet