India: Composite PMI rises in December on stronger manufacturing and services sectors
The S&P Global Composite Purchasing Managers’ Index (PMI) came in at 59.4 in December, up from November’s 56.7. As a result, the index moved further above the 50.0 no-change threshold, signaling a faster improvement in private sector operating conditions compared to the previous month.
The Manufacturing PMI came in at 57.8 in December, up from Novembers 55.7. Meanwhile, the Services PMI increased to 58.5 in December (November: 56.4). In both sectors, output and new orders rose at faster rates—the rapidest in 13 and 22 months in the manufacturing sector and in 6 and 4 months in the services sector. Employment levels also improved in both sectors. Looking at prices, while input inflation fell in the manufacturing sector, in the services sector it rose; and while output inflation fell in the services sector, in the manufacturing sector it rose. Finally, business sentiment remained optimistic in both sectors.