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August 01, 2023
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India PMI manufacturing 57.7 (consensus 57.0) in Jul-23

- India's PMI manufacturing for July 2023 exceeded expectations, recording a reading of 57.7, indicating a solid expansion in the sector.
- Despite being the lowest level since April 2023, the PMI manufacturing reading remains 1.15 points above the one-year average, suggesting overall strength in the sector.

July 12, 2023
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India industrial production 5.2% y-o-y (consensus 4.8) in May-23

- India's industrial production surged by 5.2% year-on-year in May-23, exceeding market expectations of 4.8% and marking the highest growth since February 2023.
- The May-23 industrial production figures outperformed the short-term and long-term averages, surpassing the one-year average by 1.14 percentage points and the long-run average by 2.38 percentage points, respectively. This indicates a strong recovery and sustained expansion in the Indian industrial sector.

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