Indian manufacturing booms in April

The seasonally adjusted PMI edged up marginally to 58.2 in April from 58.1 in March, marking the strongest improvement in the sector’s health in ten months. India’s manufacturing sector gained fresh momentum in April, driven by a sharp increase in output and robust international demand, according to the latest HSBC India Manufacturing Purchasing Managers’ Index. The seasonally adjusted PMI edged up marginally to 58.2 in April from 58.1 in March, marking the strongest improvement in the sector’s health in ten months. Pranjul Bhandari, Chief India Economist at HSBC, said, “The notable increase in new export orders in April may indicate a potential shift in production to India, as businesses adapt to the evolving trade landscape and US tariff announcements.” Bhandari added, “Manufacturing output growth strengthened to a ten-month high on robust orders. Input prices increased slightly faster, but the impact on margins could be more than offset by the much-faster rise in output prices, of which the index jumped to the highest level since October 2013.”