New Delhi: Manufacturing sector activities in the country have improved for the second consecutive month in September. According to a monthly survey, manufacturing activities reached an eight-and-a-half year high in September due to new orders and increased production. IHS Market India’s Manufacturing Purchasing Managers’ Index (PMI) rose to 56.8 in September. It was 52 in August. This is the highest level of PMI since January 2012.
IHS Markit’s Economics Associate Director Polianna de Lima said India’s manufacturing activities are moving in the right direction. There are many positives in the September PMI figures. covid-19 After the relaxation of the ban, the factories are operating at full capacity and they are getting new orders. The manufacturing PMI went into negative territory in April. This was positive for the last 32 consecutive months. A PMI above 50 means that activities are expanding, while less than 50 indicates contraction.
Lima said that the total sales were also supported by new export orders. This situation is the first time since the covid-19 epidemic has spread. Lima said that exports have also improved after declining for six consecutive months. The survey says that despite the improvement in orders, producers in India have indicated another reduction in their workforce. In many cases this is being done to comply with the Social Distance Guidelines. This is the sixth consecutive month while employment has declined.
