India's Manufacturing PMI Falls to 54.2 as Export Demand from Europe Weakens
Updated
Updated · WTVB · Jul 1
India's Manufacturing PMI Falls to 54.2 as Export Demand from Europe Weakens
3 articles · Updated · WTVB · Jul 1
Summary
India’s factory activity slowed to 54.2 in June from 55.0 in May, the second-weakest expansion since mid-2022 and below the 54.5 flash estimate.
New orders grew at their second-slowest pace since June 2022, while export sales rose at the weakest rate in 39 months as firms cited subdued demand from European clients.
Output and hiring also lost momentum: production expanded at its second-slowest rate since mid-2022, employment grew at its weakest pace this year, and 97% of firms kept headcount unchanged.
Cost pressures eased, with input inflation at a four-month low and output charges rising at the slowest rate in three months; 93% of companies left prices unchanged.
Business confidence slipped to a five-month low, signaling manufacturers remain wary of demand and market conditions even with PMI still above the 50 growth threshold.