Buoyed by new orders, factory activity hits 6-month high in January
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The HSBC Purchasing Managers' Index (PMI), compiled by S&P Global, was at a 12-month low of 56.4 in December 2024 and 56.5 in January 2024.
New orders increased at the fastest pace since July, driven by both domestic and international demand. «Domestic and export demand were both strong, supporting new orders growth,» said Pranjul Bhandari, chief India economist at HSBC.
International sales posted their sharpest increase in 14 years, with businesses reporting gains from across the globe, the survey mentioned.
This growth led to a significant rise in job creation, marking the fastest employment expansion in two decades.
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