India PMI May 2023

India: Composite PMI remains at near 13-year high in May

The S&P Global Composite Purchasing Managers’ Index (PMI) came in at 61.6 in May, matching April’s near 13-year high. As a result, the index remained entrenched well above the 50.0 no-change threshold, signaling a strong improvement in private sector operating conditions from the previous month.

The Manufacturing PMI came in at 58.7 in May, up from April’s 57.2. Lastly, the Services PMI decreased to 61.2 in May (April: 62.0).

In the manufacturing sector, output and new orders grew at the fastest rates in more than two years. In addition, input purchases rose by the speediest rate in over 12 years, while employment grew at the quickest rate in six months. Meanwhile, input inflation fell further below its long-run average, while output inflation rose to a year high and above its long-run average. Finally, business sentiment in the sector rose to a five-month high.

In the services sector, output grew at the second-fastest pace in nearly 13 years, and new orders expanded at one of the highest rates in the last 13 years. In addition, employment rose at a speedier rate. Meanwhile, input and output inflation rose. Finally, business sentiment in the sector fell.

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