Despite slowing to the weakest since December 2023, rates of expansion in output and sales remained elevated, according to a private survey
Feb manufacturing PMI: The decline was driven by weaker growth in output and sales, along with a slowdown in input purchasing to a 14-month low
As of 6:40 AM, GIFT Nifty Futures were up 79 points at 22,359, hinting at a higher start
'Employment PMI suggested robust job creation in the manufacturing industry, as the index increased to its highest level since the series was created'
The index has been above the 50-mark separating expansion from contraction since July 2021
At 6:50 AM, GIFT Nifty futures were trading 173 points lower at 23,382, indicating a potential gap-down start for the markets
China's $18 trillion economy hit the government's growth target of "around 5 per cent" over 2024 but in a lopsided fashion, with exports and industrial output far outpacing retail sales
Pranjul Bhandari, chief India economist at HSBC, said that India's manufacturing activity ended a strong 2024 on soft note, amidst more signs of a slowing trend, albeit moderate, in industrial sector
According to the HSBC Final India Manufacturing PMI, compiled by S&P Global, this was the joint weakest growth rate of 2024
In the previous session, the Sensex settled 843.16 points or 1.04 per cent higher at 82,133.12. Similarly, the Nifty ended higher 219.60 points or 0.89 per cent at 24,768.30
The rate of expansion is second-weakest in 11 months, the figure stood at 56.5 in January
HSBC final India Manufacturing PMI for November matches September's eight-month low of 56.5
HSBC Flash November PMI: Composite output index rises to 59.5, up from October's final reading of 59.1. Manufacturing PMI dips to 60.2, services PMI rises to 59.2
The survey also noted that new export orders exhibited stronger growth, following the weakest increase in a year and a half during September, with gains reported in new contracts
Investors will closely monitor quarterly earnings reports alongside manufacturing, composite, and services data for October
Indian manufacturers registered softer increases in new business and output during August
The HSBC final India Manufacturing Purchasing Managers' Index, compiled by S&P Global, fell for a second month in August, dropping to 57.5 from July's 58.1
Pace of expansion remains sharp and indicates strong demand and favourable market conditions, HSBC survey
The flash services PMI index rose to 60.4 this month from 60.3 in July, while a preliminary manufacturing PMI showed strong growth, albeit slightly weaker than last month
However, international sales expanded at the fastest pace in over 13 years, while job creation remained robust, and selling prices saw the steepest increase since October 2013