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India Manufacturing PMI Drops to 54.2, RBI Holds Rates

7/1/2026

46 10 Full Breakdown

Summary

Story summary

India’s manufacturing PMI fell to 54.2 in June 2026, slipping from 55.0 in May and marking the weakest output and new-order growth since March.
HSBC chief India economist Pranjul Bhandari said inflation eased to its slowest since February and hiring growth fell to its lowest this year.
The Reserve Bank of India kept the repo rate at 6.5% in its June meeting, citing the need to anchor inflation at 4%.

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Story summary

India’s manufacturing PMI fell to 54.2 in June 2026, slipping from 55.0 in May and marking the weakest output and new-order growth since March.
HSBC chief India economist Pranjul Bhandari said inflation eased to its slowest since February and hiring growth fell to its lowest this year.
The Reserve Bank of India kept the repo rate at 6.5% in its June meeting, citing the need to anchor inflation at 4%.