India’s PMI Climbs To 55.0, Production Expands Sharply, Employment Picks Up

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India’s June manufacturing PMI came in at 55.0.

This compares to 54.8 in May.

“Activity in the manufacturing sector kept up the pace in June with output, and employment expanding at a faster pace,” wrote HSBC economist Leif Eskesen.  “The latter helped slow the pace of growth in backlogs of work.”

“In light of these numbers, the RBI does not have a strong case for further rate cuts, which could add to lingering inflation risks.“

Key Points:

• PMI at 55.0 indicates further improvement in health of manufacturing economy
• Production expands sharply in June
• Largest month-on-month increase in input prices since August 2011

Click Here For Our Complete Global PMI Scorecard >

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