Economic Conditions in India's Manufacturing Sector Remains Favourable in April: IHS Markit

    Wahyu Dwi Anggoro - 03 May 2021 14:37 WIB
    Economic Conditions in India's Manufacturing Sector Remains Favourable in April: IHS Markit
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    Jakarta: Economic conditions in India's manufacturing sector remained favourable in April, as companies scaled up production in line with a further improvement in demand, according to the latest survey conducted by IHS Markit. 

    The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index® (PMI®) was at 55.5 in April, littlechanged from March's reading of 55.4.


    Consumer goods was  the strongest-performing category, followed by capital goods and then intermediate goods.

    "The PMI results for April showed a further slowdown in  rates of growth for new orders and output, both of which eased to eight-month lows amid the intensification of the  covid-19 crisis," Pollyanna De Lima, Economics Associate Director at IHS Markit, said in a press release on Monday.

    "Still, the increases were strong by historical standards and the survey revealed other positive news," De Lima stated.

    While output and  sales increased at the slowest rates since last August due to an intensification of the covid-19 crisis, there was a faster upturn in international orders. 

    Moreover, quantities of purchases  expanded at one of the strongest rates seen for over nine years as firms sought to boost their inventories.

    Survey participants also signalled a steep increase in input costs, the quickest since July 2014, and upward revisions to selling prices.

    "The headwinds facing manufacturers cannot be ignored,  however. The surge in covid-19 cases could dampen demand further when firms' financials are already susceptible to the hurdle of rising global prices," De Lima stated.

    "Data for the coming months will be important at  verifying whether client demand is resilient to these challenges or if producers will have to further absorb cost  burdens themselves to secure new work," the official added.


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