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The Hindu
an hour ago
- Business
- The Hindu
India's manufacturing sector growth falls to three-month low in May
India's manufacturing sector growth fell to a three-month low in May, restricted by inflationary pressures, softer demand and heightened geopolitical conditions, a monthly survey said on Monday (June 2, 2025). The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 58.2 in April to 57.6 in May, highlighting the weakest improvement in operating conditions since February. In PMI parlance, a print above 50 means expansion, while a score below 50 denotes contraction. May data indicated another robust improvement in business conditions across India's manufacturing industry, but rates of expansion receded to their weakest in three months, the survey said. Monitored companies linked growth to healthy domestic and international demand, alongside successful marketing initiatives. However, the upturn was curbed by cost pressures, fierce competition and the India-Pakistan conflict, according to panellists. 'India's May manufacturing PMI signalled another month of robust growth in the sector, although the rate of expansion in output and new orders eased from the previous month. The acceleration in employment growth to a new peak is certainly a positive development,' Pranjul Bhandari, Chief India Economist at HSBC, said. On the jobs front, firms hired additional staff in May, with the rate of job creation climbing to a new series record. Among the 12% of panellists that reported higher headcounts, the creation of permanent job roles featured more prominently than that of short-term positions. Moreover, sustained job creation enabled manufacturers to stay on top of their workloads in May, the survey said. On the price front, in addition to greater material costs, manufacturers also reported greater outlays on freight and labour. As a result of rising operating expenses and supported by strong demand, firms increased their selling prices in May. 'Input cost inflation is picking up, but manufacturers seem to be able to lessen the pressure on profit margins by raising output prices,' Ms. Bhandari said. Meanwhile, new export orders rose at one of the strongest rates recorded in three years. Panel members remarked on favourable demand from Asia, Europe, the Middle East and the U.S. On the business outlook, Indian manufacturers remained strongly confident of a rise in output over the course of the coming 12 months, the survey said. The HSBC India Manufacturing PMI is compiled by S&P Global from responses to questionnaires sent to purchasing managers in a panel of around 400 manufacturers. The panel is stratified by detailed sector and company workforce size, based on contributions to GDP.
Economic Times
2 hours ago
- Business
- Economic Times
Indian manufacturing growth eases to 3-month low in May, PMI shows
India's manufacturing growth slowed to a three-month low in May as demand softened amid price pressures and geopolitical tensions but job creation hit a record high, a survey showed on Monday. Solid manufacturing growth has helped India's economy outperform its major peers. Asia's third-largest economy grew 7.4% last quarter from a year earlier, the fastest expansion since early 2024 and much quicker than a Reuters poll median estimate of 6.7%. The HSBC India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, fell to 57.6 in May from 58.2 in April, lower than a preliminary estimate of 58.3, but still well above the 50.0 level that separates growth from contraction. "India's May manufacturing PMI signalled another month of robust growth in the sector, although the rate of expansion in output and new orders eased from the previous month," said Pranjul Bhandari, chief India economist at HSBC. The expansion in new orders - a key gauge of demand - eased to a three-month low but remained historically strong, supported by healthy domestic consumption and international sales. Output growth decelerated to its weakest pace since February, though manufacturers maintained positive sentiment about the year ahead. Job creation was one major bright spot, with manufacturers increasing hiring at the fastest pace in the survey's history, with permanent positions being created more frequently than temporary roles. "The acceleration in employment growth to a new peak is certainly a positive development," Bhandari said. Cost pressures intensified during May, with input price inflation climbing to a six-month high. Manufacturers passed these costs on to customers, with output price inflation among the highest in over 11 years. Growing price pressures could complicate monetary policy decisions for the Reserve Bank of India, which has already cut its key repo rate by a cumulative 50 basis points this year as overall inflation remains below the RBI's 4.0% target. The central bank is expected to cut interest rates on June 6 for a third consecutive meeting and once more in August, a Reuters poll showed last week.
Time of India
5 hours ago
- Business
- Time of India
Indian manufacturing growth eases to 3-month low in May, PMI shows
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India's manufacturing growth slowed to a three-month low in May as demand softened amid price pressures and geopolitical tensions but job creation hit a record high, a survey showed on manufacturing growth has helped India's economy outperform its major peers. Asia's third-largest economy grew 7.4% last quarter from a year earlier, the fastest expansion since early 2024 and much quicker than a Reuters poll median estimate of 6.7%.The HSBC India Manufacturing Purchasing Managers' Index ( PMI ), compiled by S&P Global, fell to 57.6 in May from 58.2 in April, lower than a preliminary estimate of 58.3, but still well above the 50.0 level that separates growth from contraction."India's May manufacturing PMI signalled another month of robust growth in the sector, although the rate of expansion in output and new orders eased from the previous month," said Pranjul Bhandari, chief India economist at expansion in new orders - a key gauge of demand - eased to a three-month low but remained historically strong, supported by healthy domestic consumption and international growth decelerated to its weakest pace since February, though manufacturers maintained positive sentiment about the year creation was one major bright spot, with manufacturers increasing hiring at the fastest pace in the survey's history, with permanent positions being created more frequently than temporary roles."The acceleration in employment growth to a new peak is certainly a positive development," Bhandari pressures intensified during May, with input price inflation climbing to a six-month passed these costs on to customers, with output price inflation among the highest in over 11 price pressures could complicate monetary policy decisions for the Reserve Bank of India , which has already cut its key repo rate by a cumulative 50 basis points this year as overall inflation remains below the RBI's 4.0% central bank is expected to cut interest rates on June 6 for a third consecutive meeting and once more in August, a Reuters poll showed last week.
Hindustan Times
a day ago
- Politics
- Hindustan Times
Jammu: Army chief felicitates BSF woman officer for defending Akhnoor posts
Army chief General Upendra Dwivedi visited Pargwal sector of Akhnoor and reviewed operational preparedness on Friday, officials said. He also met BSF Assistant Commandant Neha Bhandari and her team for defending forward posts in the Akhnoor sector during the Pakistan conflict. 'General Upendra Dwivedi reviewed operational preparedness in J&K's Pargwal sector and visited the Tiger Division where he commended troops for their outstanding performance in Operation Sindoor . He stressed the importance of staying agile and vigilant in response to evolving security dynamics,' said a defence spokesperson. The Chief of Army Staff (COAS) also praised BSF's close operational integration with the army and lauded the bravery of Bhandari and her team for defending forward posts in the Akhnoor sector, he added. He also praised the paramilitary force and ex-servicemen for their role during Operation Sindoor, the army said. The army chief had reached Jammu on a two-day visit on Thursday and attended the high-level security review meeting chaired by home minister Amit Shah. Commanding a border outpost within eyeball-to-eyeball contact of a Pakistani post along the international border, the assistant commandant led her troops to silence three forward hostile posts across the zero line (the area closest to enemy territory) by giving a befitting reply. Bhandari got a commendation disc from the army chief, the Jammu BSF stated on X. Apart from Neha, six women constables held gun positions at a forward border post, rising with every bullet they fired at the enemy positions across the international border in the Samba, RS Pura and Akhnoor sectors. Neha, a third-generation officer from her family in Uttarakhand, takes pride in being part of the BSF and commanding a border outpost in the Pargwal forward area of the Akhnoor sector in the Jammu district during Operation Sindoor. 'I feel proud to be manning a post along the International Border with my troops. It is approximately 150 meters away from the Pakistani post in the Akhnoor–Pargwal area,' she said. (With PTI inputs)
India Gazette
2 days ago
- Politics
- India Gazette
COAS General Upendra Dwivedi felicitates BSF Asst Commandant Neha Bhandari for contribution in Op Sindoor
Jammu (Jammu and Kashmir) [India], May 31 (ANI): Chief of Army Staff General Upendra Dwivedi on Friday felicitated Neha Bhandari from BSF Jammu with the Commendation Disc for her exceptional courage and operational proficiency during the Operation Sindoor. 'On 30 May 2025, COAS General Upendra Dwivedi, PVSM, AVSM, felicitated Assistant Commandant Neha Bhandari of BSF Jammu with the Commendation Disc for her exceptional courage and operational proficiency during Operation Sindoor. She gallantly commanded a forward-deployed BSF company under challenging conditions', an 'X' post from BSF Jammu said. BSF Assistant Commandant Neha Bhandari commanded a forward post along the International Border (IB) during Operation Sindoor. Earlier, speaking to ANI, she described the high spirits of the personnel during the operation, saying, 'The josh was high...' Bhandari's company was responsible for stopping any infiltration attempts and keeping the IB safe. They successfully fulfilled their responsibilities during the operation. 'During Operation Sindoor, I was commanding a company deployed at the IB. Our responsibility was to stop any infiltration, give a befitting reply to Pakistan and keep the International Border safe. We fulfilled all responsibilities well,' she told ANI. The BSF personnel fired at the enemy using high and flat trajectory weapons, giving a strong response to Pakistan's actions. Bhandari highlighted the role of women personnel in the operation, saying that both women and men BSF personnel carried out their duties effectively. 'We fired at the enemy using high and flat trajectory weapons. In this operation, both women and men BSF personnel carried out their duties. We have posts and bunkers for our protection,' she added. Bhandari mentioned that the BSF has posts and bunkers for protection, showcasing the force's preparedness and vigilance along the IB. India had launched Operation Sindoor on May 7 in response to the Pahalgam terror attack, targeting terror infrastructure in Pakistan and Pakistan-occupied Kashmir (PoK). The Indian armed forces responded effectively to subsequent Pakistani aggression and pounded its airbases. The two countries then reached an understanding to stop military action following a call made by Pakistan's DGMO to his Indian counterpart. (ANI)
