IND- Actual: 57.7
- Previous: 59.3
- Consensus: 58.5
- Impact:
Overview
The HSBC India Manufacturing PMI was revised down to 57.7 in September 2025 from a preliminary estimate of 58.5, and compared to August’s 17-and-a-half-year high of 59.3. Despite the fall, the figure remained well above the long-term average, signaling continued strength in the sector. New orders grew further amid robust demand, though the pace of expansion eased to a four-month low. Similarly, production increased at a solid rate but registered the weakest growth since May. Purchasing activity also rose markedly, albeit at the slowest pace in four months. Meanwhile, job creation retreated to a one-year low. On the price front, input costs continued to increase in September, driven by higher battery, cotton, electronic component, and steel prices. Selling prices, on the other hand, rose at the fastest pace since October 2013. Looking ahead, business confidence strengthened to a seven-month high, with changes in GST (goods and services tax) rates boosting optimism.
Stats
| Actual | Previous | Highest | Lowest | Dates | Unit | Frequency | |
|---|---|---|---|---|---|---|---|
| 57.90 | 58.10 | 59.1 | 27.4 | 2012-2024 | points | Monthly | SA |
Historical data
| Date | Time | Reference | Last | Previous | Consensus |
|---|---|---|---|---|---|
| Sep 02, 2024 | 10:30 | HSBC Manufacturing PMI Final Aug | 57.5 | 58.1 | 58 |
| Aug 22, 2024 | 10:30 | HSBC Manufacturing PMI Flash Aug | 57.9 | 58.1 | - |
| Aug 01, 2024 | 10:30 | HSBC Manufacturing PMI Final Jul | 58.1 | 58.3 | 59 |
| Jul 24, 2024 | 10:30 | HSBC Manufacturing PMI Flash Jul | 58.5 | 58.3 | - |
| Jul 01, 2024 | 10:30 | HSBC Manufacturing PMI Final Jun | 58.3 | 57.5 | 58.5 |
| Jun 21, 2024 | 10:30 | HSBC Manufacturing PMI Flash Jun | 58.5 | 57.5 | - |
| Jun 03, 2024 | 10:30 | HSBC Manufacturing PMI Final May | 57.5 | 58.8 | 58.4 |
| May 23, 2024 | 10:30 | HSBC Manufacturing PMI Flash May | 58.4 | 58.8 | - |
| May 02, 2024 | 10:30 | HSBC Manufacturing PMI Final Apr | 58.8 | 59.1 | 59.5 |
| Apr 23, 2024 | 10:30 | HSBC Manufacturing PMI Flash Apr | 59.1 | 59.1 | - |
Major Indicators
- GDP Annual Growth Rate
- Interest Rate
- Inflation Rate
- Unemployment Rate
- Government Debt to GDP
- Current Account to GDP
- Current Account
- Manufacturing Production
- Manufacturing PMI
- Services PMI
- Exports
- Imports
- Consumer Confidence
- Foreign Direct Investment
- Balance of Trade
- Government Budget
- Business Confidence
GDP
- GDP Annual Growth Rate
- Full Year GDP Growth
- GDP from Mining
- GDP per Capita
- Gross Fixed Capital Formation
- GDP per Capita PPP
- GDP
- GDP Constant Prices
- GDP from Manufacturing
- GDP Growth Rate
- GDP from Agriculture
- GDP from Construction
- Gross National Product
- GDP from Public Administration
- GDP from Utilities
Labour
- Unemployment Rate
- Retirement Age Women
- Labor Force Participation Rate
- Minimum Wages
- Population
- Retirement Age Men
- Employment Rate
Government
- Corruption Rank
- Government Spending to GDP
- Fiscal Expenditure
- Government Debt to GDP
- Corruption Index
- Government Budget
- Government Spending
- Government Budget Value
- Government Revenues
- Military Expenditure
Prices
- Producer Price Inflation MoM
- Consumer Price Index CPI
- CPI Transportation
- Inflation Rate
- WPI Food Index YoY
- WPI Food YoY
- Producer Prices
- Import Prices
- Food Inflation
- GDP Deflator
- WPI Fuel YoY
- Export Prices
- Inflation Expectations
- CPI Housing Utilities
- WPI Manufacturing YoY
- Producer Prices Change
- Inflation Rate Mom
Money
- Loan Growth
- Central Bank Balance Sheet
- Cash Reserve Ratio
- Interest Rate
- Interbank Rate
- Reverse Repo Rate
- Money Supply M2
- Foreign Exchange Reserves
- Money Supply M3
- Money Supply M1
Trade
- Current Account to GDP
- Crude Oil Production
- Foreign Direct Investment
- Terrorism Index
- Auto Exports
- Capital Flows
- Imports
- Exports
- Balance of Trade
- Tourist Arrivals
- Weapons Sales
- Gold Reserves
- Terms of Trade
- Current Account
- Remittances
- External Debt
Business
- Manufacturing PMI
- Total Vehicle Sales
- Industrial Production Mom
- Business Confidence
- Capacity Utilization
- Manufacturing Production
- Corruption Index
- Steel Production
- Car Registrations
- Composite Leading Indicator
- Corruption Rank
- Industrial Production
- Changes in Inventories
- Composite PMI
- Deposit Growth
- Car Production
- Electricity Production
- Services PMI
- Mining Production
Housing
- Residential Property Prices
- Housing Index
- Construction Output
Taxes
- Social Security Rate
- Corporate Tax Rate
- Withholding Tax Rate
- Social Security Rate For Companies
- Personal Income Tax Rate
- Sales Tax Rate
- Social Security Rate For Employees
Consumer
- Consumer Confidence
- Bank Lending Rate
- Gasoline Prices
- Households Debt to GDP
- Disposable Personal Income
- Consumer Spending
Climate
- Precipitation
- Temperature
Health
- Coronavirus Deaths
- Hospital Beds
- Coronavirus Vaccination Rate
- Coronavirus Vaccination Total
- Coronavirus Cases