FX.co ★ India’s Manufacturing Momentum Eases Slightly as HSBC PMI Slips to 54.2 in June

India’s manufacturing sector showed a mild loss of momentum in June, as the HSBC India Manufacturing Purchasing Managers’ Index (PMI) edged down to 54.2 from the previous reading of 55.0. The latest figure, updated on 1 July 2026, still signals an expansion in factory activity, but at a slower pace than earlier in the period.

Despite the slight decline, the PMI remaining comfortably above the 50.0 threshold indicates that India’s manufacturing sector continues to grow, though with reduced intensity compared to the previous reading. The June 2026 data suggest that while demand and production remain on a positive trajectory, the pace of improvement has moderated, hinting at a more cautious backdrop for the sector going into the second half of the year.