India PMI January 2023

India: Composite PMI eases in January on weaker expansions in manufacturing and services output

The S&P Global Composite Purchasing Managers’ Index (PMI) came in at 57.5 in January, down from December’s near 11-year high of 59.4 but above its long-term average of 54.1. As a result, the index moved closer to the 50.0 no-change threshold, signaling a weaker improvement in private sector operating conditions compared to the previous month.

The Manufacturing PMI came in at 55.4 in January, down from December’s 57.8. Meanwhile, the Services PMI decreased to 57.2 in January (December: 58.5). In both sectors, output and new orders rose at softer rates. Meanwhile, employment levels were little changed in both sectors. Looking at prices, while both input and output inflation fell in the services sector, in the manufacturing sector, input inflation rose and output inflation fell. Finally, business sentiment remained optimistic in both sectors.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest