Mfg activity hits 14-mth high led by export orders

New Delhi: Activity in the country's manufacturing sector rose to a 14-month high in June as new orders, including those from overseas, surged, triggering a record upturn in employment, results of a survey showed on Friday.The HSBC India Manufacturing Purchasing Managers' Index (PMI) rose to 58.4 in June, up from 57.6 in May. The headline figure was above its long-run average of 54.1 and pointed to a robust improvement in health of the sector. The 50-point mark separates expansion from contraction in the survey, which is compiled from responses to questionnaires sent to 400 manufacturing firms.June also saw a quicker upturn in new order inflows.

The rate of expansion was the strongest in close to a year. According to companies, the increase was supported by marketing efforts and a substantial rise in exports, the survey results showed.Production volumes increased at the fastest pace since April 2024, fuelled by efficiency gains, favourable underlying demand and greater sales volumes. This acceleration was solely led by intermediate goods makers, however, with slowdowns in the consumer and capital goods segments.