India’s September PMI Surges: Manufacturing at 55.7, Services at 55.8, Beating Forecasts
India's flash PMI data for September, released on September 23, showed manufacturing at 55.7 and services at 55.8, both exceeding market expectations and accelerating from August. The composite PMI rose to 56.5, indicating robust expansion in private sector activity driven by strong demand and output growth.
IllustrationEditorial responsibility
- No named human review is recorded for this page.
- Reports are grouped by semantic similarity and deterministic rules. Language models may assist titles, summaries, translation and cross-source analysis; the page reads the event directly, while its address stays stable when the title changes.
- Summary covers the current reports
Cross-source coverage
Reporting timeline
India's September Manufacturing PMI Beats Expectations at 55.7, Services PMI at 55.8
According to a flash estimate released on September 23, India's manufacturing Purchasing Managers' Index (PMI) for September came in at 55.7, significantly above the market expectation of 53 and the previous month's reading of 52.8. The services PMI also exceeded forecasts, registering a preliminary value of 55.8 against an expected 54.4 and a prior reading of 54.1. These data points, reported by financial news outlet Cailianshe, indicate continued expansion in both the manufacturing and services sectors of the Indian economy, with the actual figures surpassing analyst predictions and showing acceleration from the previous month's levels.
Read sourceHSBC Flash PMI Shows India's Economic Activity Accelerated in September
A flash survey by HSBC, released on September 23, indicates that India's economic activity picked up in September after slowing in recent months. The HSBC India Composite PMI rose to 56.5 in September from 54.3 in August, driven by faster growth in both manufacturing and services. The manufacturing PMI climbed to a seven-month high of 55.7 from 52.8, while the services PMI increased to 55.8 from 54.1. HSBC noted that output growth accelerated in both sectors, with goods producers leading the upturn. New orders grew at a quicker pace, supporting robust job creation. The composite index has moved back above its long-term average, signaling sustained expansion.
Read sourceIndia September Manufacturing PMI Flash Hits 55.7, Beating 53 Forecast
The flash estimate for India's Manufacturing Purchasing Managers' Index (PMI) for September 2023 came in at 55.7, significantly above the market expectation of 53 and the previous month's final reading of 52.8. This data, released by financial data provider Jin10, indicates a sharp acceleration in manufacturing activity in India. A PMI reading above 50 signals expansion, and the September figure suggests robust growth in the sector, driven by strong demand and output. The better-than-expected performance highlights the resilience of India's manufacturing economy amid global economic uncertainties. The final PMI reading for September will be released later, but the flash estimate provides an early and closely watched indicator of economic health.
Show 2 older updatesHide older updates
India September Composite PMI Flash Hits 56.5, Beating Forecast of 54.4
India's composite Purchasing Managers' Index (PMI) for September, based on flash estimates, came in at 56.5, significantly exceeding market expectations of 54.4 and rising from the previous month's final reading of 54.3. The data, released by financial data provider Jin10, indicates a continued and accelerated expansion in India's private sector activity. A PMI reading above 50 signals expansion, while below 50 indicates contraction. The stronger-than-expected figure suggests robust economic momentum in the Indian economy at the start of the third quarter, driven by both manufacturing and services sectors. The flash estimate is an early indicator of the final PMI data and is closely watched by investors and policymakers for gauging near-term economic health.
Read sourceIndia September Services PMI Flash Beats Forecast at 55.8 vs 54.4 Expected
India's services sector activity expanded at a faster pace in September, according to the flash Purchasing Managers' Index (PMI) released by financial data provider Jin10. The September services PMI flash reading came in at 55.8, surpassing both the forecast of 54.4 and the previous month's final reading of 54.1. A PMI reading above 50 indicates expansion in the sector. The data suggests continued robust growth in India's services industry, which is a key driver of the country's economy. The stronger-than-expected figure may influence expectations for the Reserve Bank of India's monetary policy stance, though the report does not provide details on sub-components such as new orders, employment, or business confidence.