Manufacturing activities at 7-month low, PMI stood at 55.4 in March

Manufacturing activities at 7-month low, PMI stood at 55.4 in March

In the growing cases of Corona virus, work in factories is getting affected. In March, the manufacturing PMI (Purchase Manager Index) was at a 7-month low. In March it has been 55.4, while in February the PMI was 57.5. According to IHS market data, factory production in March has come down to the lowest level in 7 months. That is, the effect of imposing restrictions at different places across the country is clearly visible in the factory output.

Let us know that the second wave of Corona virus is becoming dangerous in the country. This can be gauged from the fact that more than 1 lakh cases of corona virus have been reported in the last 24 hours. This is the highest increase of 1 day in the country so far. The second wave of Corona virus had started since March, which has seen the effect on PMI. It is believed that there may be a decrease in manufacturing activities in April, because now the strictness is increasing.

Economics Associate Director of IHS Market Paulina de Lima said that the PMI had seen a boom since the beginning of 2021. The year 2020 ended with weakness. If we talk about March, then manufacturing sector growth momentum seems to be decreasing. Statistics related to purchasing manager index are collected through a survey. De Lima said that the companies involved in the survey have said that the growth of demand is weak due to the resurgence of the coronavirus epidemic.

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