HSBC PMI April

The manufacturing sector gathered some strength in April on the back of an increase in new business and export orders, but price pressures and power shortage continued to hurt. The HSBC Purchasing Managers’ Index (PMI) — an index designed to measure the health of the manufacturing sector — posted 54.9 in April, littlechanged from 54.7 in March and signalling a solid improvement in operating conditions. The 50-point mark separates expansion from contraction. The data is based on replies from purchasing executives in over 500 manufacturing companies. “Activity in the manufacturing sector expanded at a slightly faster pace in April. While output growth moderated, partly on the back of power outages, new orders continued to pour in, including for exports,” said Leif Eskesen, chief economist for India and Asean at HSBC.