India PMI March 2022

India

India: Private-sector PMI increases in March

April 6, 2022

The composite Purchasing Managers’ Index (PMI) produced by S&P Global increased to 54.3 in March from 53.5 in February. Consequently, the PMI moved further above to the 50-threshold, indicating a slightly quicker expansion in business activity from the previous month.

The services PMI rose to 53.6 in March from 51.8 in February, due to stronger growth in new orders and output, partly due to more relaxed Covid-19 restrictions. Moreover, on the manufacturing side, the PMI increased from 54.9 in February to 54.0 in March, due to slightly softer expansions in output and new orders.

Commenting on the latest PMI data, Pollyanna De Lima, economics associate director at S&P Global, said:

“Inflation risks continued to curb business optimism regarding growth prospects, with sentiment among

services companies remaining subdued by historical standards. This lack of confidence in the outlook also

meant that employment continued to fall in March."

FocusEconomics panelists see fixed investment rising 8.7% in FY 2022, which is unchanged from last month’s forecast, and growing 6.4% in FY 2023.


Author:, Economist

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India PMI March 2022

Note: S&P Global Purchasing Managers’ Index (PMI). Readings above 50 indicate an overall increase compared to the previous month, and below 50 an overall decrease.
Source: S&P Global.


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