Friday, March 29, 2024
News

Growth Rebound: India's July manufacturing output zooms, says PMI

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New Delhi | Monday, 2021 6:15:06 PM IST
India's manufacturing sector output accelerated to the strongest growth rate in three months during July.

Accordingly, the headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) rose to 55.3 (index reading) in July as against a reading of 48.1 in June.

The PMI ranges between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month.

Besides, the latest reading pointed to renewed stream of new orders, exports, quantity of purchases and input stocks.

Furthermore, the data report by IHS Markit, cited a marginal increase in employment which ended a 15-month sequence of job shedding.

However, there was softer but still sharp increase in input costs.

The report pointed out that factory orders rose amid reports of improved demand and the easing of some local Covid-19 restrictions.

"The upturn was sharp and compared with a marked decline in June. Strengthening international demand contributed to the uptick in total order books."

"New export orders expanded markedly in July, following a moderate contraction in June."

"Rising sales supported a recovery in output, which increased in July after falling for the first time in 11 months during June."

The rate of production growth was sharp and outpaced its long-run average, the report said.

--IANS rv/sn/in

( 223 Words)

2021-08-02-12:06:03 (IANS)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Availability and cost of capital most im...
Religare Enterprises Ltd. (REL), Sir Gan...
BD India Launches UltraTouch; a New Age ...
The Art of Living upgrades its Bengaluru...
Introduction of T+0 rolling settlement c...
EC-Council Renews USD 3.5 Million Cybers...
More...
 
INDIA WORLD ASIA
Chennai: Three dead after false ceiling ...
Union Minister Gajendra Shekhawat meets ...
Jailed gangster-turned-politician Mukhta...
Eknath Shinde's Shiv Sena releases first...
'Three parties have allied directly...':...
Uttar Pradesh: Security tightened in Ali...
More...    
 
 Top Stories
No change of guard ceremony on Marc... 
"Brutal policy of killing, dumping ... 
Andhra Pradesh: Railway Protection ... 
Earthquake of 4.6 magnitude jolts A... 
Telangana: Fire breaks out at dump ... 
EAM Jaishankar shares glimpse from ... 
"My father was being given slow poi... 
South Africa's former President Jac...