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Manufacturing PMI declines to 54.0 in March from 54.9 in February

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At 54.0, the manufacturing PMI for India is the joint-lowest since September 2021.

Manufacturing PMI declines to 54.0 in March from 54.9 in February

The S&P Global India Manufacturing Purchasing Managers' Index (PMI) declined to 54.0 in March from 54.9 in February.

A reading above 50 indicates expansion in activity, while a sub-50 print is a sign of contraction.

IHS Markit - the  compiler of the PMI - completed its merger with S&P Global on Febraury 28, leading to the renaming of the PMI for India as well as some other countries.

While a reading greater than 50 suggests the manufacturing sector expanded further in March, a fall from February's levels was because of smaller increases in new orders and production.

"Goods producers indicated that new orders continued to increase in March. The rate of expansion eased to a six-month low, but remained marked," said S&P Global on April 4.

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