Manufacturing activities in India eased marginally in September but remained in good shape amid companies hiring more workers and cooling price pressures, according to a monthly survey released on Monday.<\/p>\n
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Photograph: Amit Dave\/Reuters<\/span><\/p>\n The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) indicated a strong improvement in the health of the Indian manufacturing industry, as companies stepped up production in tandem with a sustained increase in new work intakes.<\/p>\n The PMI at 55.1 in September continued to be in expansion mode for the 15th consecutive month but was slightly lower than 56.2 recorded in August.<\/p>\n \u00a0<\/p>\n “Rates of expansion remained historically high, despite easing from August.<\/p>\n “To accommodate higher sales and greater output needs, firms hired extra workers and acquired more inputs.<\/p>\n “The upturn in input buying was aided by cooling price pressures.<\/p>\n “Purchasing costs rose at the slowest pace in just under two years, while output charge inflation receded to a seven-month low,” the survey said.<\/p>\n A PMI score above 50 indicates expansion and a print below that level reflects contraction in manufacturing activities.<\/p>\n Pollyanna De Lima, Economics associate director at S&P Global Market Intelligence, said the latest set of PMI data shows us that the Indian manufacturing industry remains in good shape, despite considerable global headwinds and recession fears elsewhere.<\/p>\n “There were softer, but substantial, increases in new orders and production in September, with some leading indicators suggesting that output looks set to expand further at least in the short-term as firms seek to fulfil sales contracts and replenish stocks,” De Lima noted.<\/p>\n Further, De Lima said input costs rose at the slowest rate in almost two years as suppliers’ stocks improved in line with subdued global demand for raw materials and recession risks.<\/p>\n “Subsequently, Indian companies sought to restrict selling price hikes and overall charge inflation eased to a seven-month low.”<\/p>\n The Manufacturing PMI is compiled by S&P Global from responses to questionnaires sent to purchasing managers in a panel of around 400 manufacturers.<\/p>\n The panel is stratified by detailed sector and company workforce size, based on contributions to GDP.<\/p>\n<\/div>\n[ad_2]\n<\/p>\n News From This Website <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<\/p>\n