India’s manufacturing sector has displayed impressive resilience, reaching a three-month peak in August 2023, defying market predictions.
Furthermore, an uptick in export orders contributed to the elevated manufacturing PMI, extending its growth streak for 17 consecutive months.
Pollyanna De Lima, the Economics Associate Director at S&P Global, lauded the PMI results. Describing them as painting a vibrant picture of India’s manufacturing landscape in August.
This data underscores the resilience and vitality of India’s manufacturing sector, defying expectations and setting the stage for a positive economic trajectory in the coming months.
As the PMI continues to exceed expectations, it offers hope for sustained growth and economic stability in India’s industrial landscape.