February manufacturing growth remains flat: PMI

The PMI ranges between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month.

New Delhi: India’s manufacturing sector growth remained flat-to-positive in February, as improving business environment pushed order flow.

Accordingly, the headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) inched up to 57.5 (index reading) in February same as 57.7 in January. However, the index remained above its long-run average of 53.6.

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The PMI ranges between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month.

“Better demand conditions and successful marketing campaigns reportedly underpinned a further increase in new orders during February,” said IHS Markit in the February PMI report.

“Although easing from January, the pace of growth remained sharp in the context of historical data.”