HSBC PMI January 2013

Growth in the country’s manufacturing sector slowed to a three month low in January due to the impact of easing orders and power outages.
The HSBC Purchasing Managers’ Index (PMI) – an indicator aimed at providing a snapshot of operating conditions in the manufacturing sector – posted 53.2 in January, down from 54.7 in December. The December reading was a six-month high on the back of solid orders.
The latest reading signalled a further improvement in the health of the Indian manufacturing sector. But the improvement was slower, the survey said.
The Indian manufacturing sector has been hit hard by the slowing economy, weakening global growth, high interest rates, stubborn inflation and rising input costs.
Continuing the trend that started in April 2009, output at manufacturers in India rose during January. While solid, the rise in production was the slowest recorded in three months amid evidence from the survey panel that ongoing issues with the supply of power had restricted growth, according to the PMI survey.
The survey said input and output prices both increased in January, with rates of inflation again marked.