India's Manufacturing Growth Steady with PMI Above Average

The Purchasing Managers Index (PMI) has stayed above its historical average for almost three years, highlighting a consistent growth rate in India’s manufacturing industry. The survey gathers feedback from approximately 400 manufacturers across the country, offering an overview of the industry’s condition.

Although new orders kept increasing in November, the rate of growth was the second slowest in almost a year. "The survey indicated that growth was aided by positive demand conditions but hindered by intense competition and pricing pressures."

Input expenses increased at their quickest rate since July, propelled by rising costs for chemicals, cotton, leather, and rubber. The rise in input costs resulted in the steepest surge in output prices since October 2013, as domestic manufacturers transferred extra freight, labor, and material expenses to consumers.

Although new orders continued to increase in November, the rate of growth was the second slowest in almost a year. The survey indicated that growth was aided by positive demand conditions but hindered by intense competition and pricing pressures.

Input costs increased at their quickest rate since July, influenced by escalating prices for chemicals, cotton, leather, and rubber. The rise in input expenses resulted in the steepest increase in output prices since October 2013, as producers transferred extra freight, labor, and material costs to consumers.