Manufacturing PMI: Manufacturing activities in India have seen a boom in the last month and the manufacturing PMI data in March has been encouraging. The level of S&P Global Purchasing Managers’ Index (PMI) has come to 56.4. Although according to the March Manufacturing PMI data, there has been a good growth in manufacturing activities, but the companies have cut jobs for the first time in the last one year.
What’s in the survey of S&P Global
According to a recent survey by S&P Global, the Manufacturing Sector Purchasing Managers’ Index (PMI) has shown a rapid growth in the last month of FY 2022-23 i.e. March. Manufacturing PMI has come to 56.4 in March, which is its highest level in the last three months. Due to this, in the last month i.e. February 2023, the manufacturing PMI came to 55.3.
What is Manufacturing PMI?
If the number of manufacturing PMI remains below 50, it means that the economy is weakening. At the same time, coming more than 50 means that the country’s economy is strong.