For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

PMI: Manufacturing Activity In June Shows Recovery

|

India's manufacturing activity sees the third successive month of contraction in June, however, the contraction was the softest since March as the nationwide lockdown was lifted. According to IHS Markit, PMI (Purchasing Managers' Index) for the month of June rebounded to 47.2 from 30.8 in May. In comparison, the index was seen at 52.1 in June 2019. A reading above the 50-mark means an expansion while that below 50 indicates contraction.

PMI: Manufacturing Activity In June Shows Recovery
 

Output levels rose to the highest level since March 2020 at 46.7 from 19.6 seen in May. New orders too have risen to a three-month high in the month of June.

"However, the recent spike in new coronavirus cases and the resulting lockdown extensions have seen demand continue to weaken. Should case numbers continue rising at their current pace, further lockdown extensions may be imposed, which would likely derail a recovery in economic conditions and prolong the woes of those most severely affected by this crisis," said Eliot Kerr, economist at IHS Markit.

Read more about: pmi manufacturing
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more