Quote on November PMI Numbers by Rajeev Sharan, Head - Criteria, Model Development & Research

2025-11-21 12:41:07 pm | Source: Brickwork Ratings

Quote on November PMI Numbers by Rajeev Sharan, Head - Criteria, Model Development & Research - Brickwork Ratings

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Below the Quote on November PMI Numbers by Rajeev Sharan, Head - Criteria, Model Development & Research - Brickwork Ratings

India’s November flash PMI of 59.9 underscores continued expansion despite moderation from earlier highs. For credit ratings, resilient activity, strong order books, and improving employment support stable-to-positive outlooks, especially for domestic demand and infrastructure-linked issuers. Manufacturing PMI, although in expansionary territory, slipped to a nine-month low of 57.4 as new orders softened and the GST-led boost possibly peaked. Emerging sectoral softness and global headwinds warrant caution, with issuer-specific fundamentals outweighing broad-based credit rating action in the near term.

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Quote on November PMI Numbers by Rajeev Sharan, Head - Criteria, Model Development & Research - Brickwork Ratings

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