Rebound: India's July manufacturing output zooms, shows PMI (Lead)
New Delhi
02-August-2021

Photo:IANS
India's manufacturing sector output accelerated to the strongest growth rate in three months during July.
The PMI ranges between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month.
The latest reading also 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.
Watch This TWL Video
"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," it said.
The rate of production growth was sharp and outpaced its long-run average, the report added.
IHS Markit Economics Associate Director Pollyanna De Lima said: "It's encouraging to see the Indian manufacturing industry recover from the blip seen in June. Output rose at a robust pace, with over one-third of companies noting a monthly expansion in production, amid a rebound in new business and the easing of some local Covid-19 restrictions.
"Should the pandemic continue to recede, we expect a 9.7 per cent annual increase in industrial production for calendar year 2021."-IANS
More Headlines
AI Cybersecurity Startup Neural Defend Raises $600K in Pre-Seed Round
Chennai Doctor and Family Found Dead Amid ₹5 Crore Business Loss
Karnataka Withdraws CID Probe in Ranya Rao Gold Smuggling Case
New Kerala Guv Strikes Cordial Tone, Hosts CM Vijayan And FM Sitharaman In Delhi
Digital Payments Surge in India: 18,120 Crore Transactions in FY24-25
AI Cybersecurity Startup Neural Defend Raises $600K in Pre-Seed Round
Chennai Doctor and Family Found Dead Amid ₹5 Crore Business Loss
Karnataka Withdraws CID Probe in Ranya Rao Gold Smuggling Case
New Kerala Guv Strikes Cordial Tone, Hosts CM Vijayan And FM Sitharaman In Delhi
Digital Payments Surge in India: 18,120 Crore Transactions in FY24-25