FX.co ★ India Factory Growth Strongest in 11 Months

In May 2025, the HSBC India Manufacturing PMI edged up to 58.3 from 58.2 in April, surpassing the anticipated 58, as indicated by preliminary figures. This points to enhanced operating conditions and denotes the quickest growth rate since June 2024, driven by substantial increases in output and new orders—even as growth slightly decelerated from April's tempo. Meanwhile, input costs experienced their sharpest hike in over eleven and a half years, with firms citing strong demand as a factor allowing them to transfer rising expenses to clients. Nonetheless, despite this strong performance, manufacturers reported their lowest confidence levels of the year to date.