HSBC Manufacturing PMI in India

S&P Global · Monthly · Importance

54.9 (Oct-26) ABS · index · Monthly · CSV

Period	index
Oct 2026	54.9
Sep 2026	55.1
Aug 2026	52.8
Jul 2026	53.9
Jun 2026	54.2

Period	index
Oct 2026	-0.2
Sep 2026	2.3

Period	index
Oct 2026	-4.3
Sep 2026	-3.3

About this indicator

Source

S&P Global Market Intelligence

Frequency

Monthly

Release

Flash around the 21st of the current month, final on the first working day of the following month, 07:00 CEST (05:00 UTC).

What it is

India's Manufacturing PMI is a diffusion index based on a monthly survey of purchasing managers in industry. Above 50 signals expansion on the previous month and below 50 contraction. It is compiled by S&P Global and sponsored by HSBC.

How it's calculated

A weighted composite of five sub-indices: New Orders (30%), Output (25%), Employment (20%), Suppliers' Delivery Times (15%) and Stocks of Purchases (10%). Seasonally adjusted.

Market implications

A leading indicator of the Indian economic cycle: it is released ahead of the national accounts and official industrial output, and markets take it as the first read of the month on the manufacturing sector.

Limitations

A qualitative survey: it measures the direction of change, not its size. The sample is private firms and the seasonal adjustment factors are revised periodically.