Manufacturing output registers strongest growth since Feb: HSBC PMI

The manufacturing sector has registered strongest growth in June since February, a survey by HSBC revealed on Tuesday. Results of the survey is known as HSBC Purchasing Manager Index (PMI).

The index rose to 51.5 in June from 51.4. Though the increase in marginal the important thing is that the manufacturing output has increased for the eighth successive month. At the same time, growth of export orders has hit a three-month high. However, expansion of incoming new orders has been moderate.

“Greater domestic and foreign demand led companies to increase production levels further. Buying activity expanded at a faster rate, while employment continued to rise. Input cost and output price inflation accelerated over the month, although in both cases the rates of increase were below their respective long-run averages,“ the survey said.

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Categorised in: Manufacturing, Sector News

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