India manufacturing activity rose to three month high
The HSBC India Manufacturing PMI rose to 55.0 in May as domestic demand and new orders drove the fastest production growth since February. While input price inflation hit a near four-year high due to rising energy costs, manufacturers increased purchasing activity to build contingency stocks.
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India manufacturing activity rose to 55.0 in May, marking the fastest expansion in three months despite mounting cost pressures. The reading surpassed the preliminary estimate of 54.3 and stayed above the 50.0 growth threshold. Domestic demand remained the primary growth engine, though business confidence fell to its lowest level since February.
