Mfg sector sees robust growth during Nov

New Delhi: India's manufacturing sector continued with its robust performance in November, mainly on the back of substantial easing in price pressures and strengthening demand from clients, a monthly survey said on Friday.

The strong performance of the manufacturing sector is expected to continue in 2024 as well. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) rose to 56 last month from the eight-month low level of 55.5 recorded in October. "A key feature of the latest results was a substantial easing of price pressures. Although average purchasing costs rose again, the rate of inflation eased to the lowest in the current 40-month sequence of increases and was negligible by historical standards," it said.

Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence, said India's manufacturing industry maintained its robust performance in November, with output regaining growth momentum.