News Brief
India's Manufacturing Sector: June Records Second-Fastest Expansion, Sustained Growth For Two Consecutive Years
A manufacturing facility.
India's manufacturing sector experienced notable growth in June, emerging as the second-fastest expansion of the year, albeit with a slightly slower pace than in May.
According to the latest data from the Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, June recorded a PMI reading of 57.8, indicating a slight decrease from May's figure of 58.7.
This result fell slightly short of the Reuters poll expectation of 58.0.
Significantly, the PMI has consistently remained above the crucial 50-mark for two consecutive years, indicating continuous expansion rather than contraction in the sector.
This sustained growth demonstrates the resilience and strength of India's manufacturing industry, experts said.
"June's PMI results again showed robust demand for Indian-made products, both in the domestic and international markets," Pollyanna De Lima, economics associate director at S&P Global Market Intelligence, was quoted by Reuters as saying.
"Positive client interest continued to support the manufacturing industry, driving growth of output, employment, quantities of purchases and input stocks," she added.
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