India's Manufacturing & Services PMI

The manufacturing PMI remained in expansion zone to 54.0 in March. Services sector indicators – railway freight; e-way bills; GST collections; toll collections; fuel consumption; and electricity demand were in expansion in February-March. The capacity utilisation (CU) in the manufacturing sector recovered further to 72.4 percent in Q3 2021-22 from 68.3 percent in the previous quarter. The service PMI continued in expansion mode, inched up to 53.6 in March from 51.8 in the preceding month.

PMIs show that employment under both manufacturing and services sector contracted for the third consecutive month.