Schedule a Call Back
India’s manufacturing activity expands, but demand slows: IHS Markit
Industry News- Sep 06,21
A survey by analytics firm IHS Markit showed that manufacturing activity increased in August. The pace of growth remained muted due to the pandemic’s impact on demand.
A survey by analytics firm IHS Markit showed that manufacturing activity increased in August but, the pace of growth remained muted due to the pandemic’s impact on demand.
It showed that the purchasing managers’ index (PMI) for the manufacturing sector declined to 52.3 in August from 55.3 in July, separating expansion in activity from contraction.
While some companies reported growth backed by favourable market conditions and fruitful advertising, others reported a fall in sales due to the pandemic. There was an increase in new export orders, but the growth lost momentum. Indian manufacturers also signalled a rise in cost burden.
In terms of employment, uncertainty regarding growth prospects, spare capacity, and efforts to keep a lid on expenses led to a hiring freeze in August.
Pollyanna De Lima, Economics Associate Director, IHS Markit, said the 12-month outlook for production remains positive. But the confidence has faded amid worries of the pandemic, the impact of rising costs on companies’ finances and a lack of pricing power.
Related Stories
Auto & Auto Components
Mahindra’s Thar ROXX, XUV 3XO, and XUV400 earn 5-Star Bharat-NCAP rating
Thar ROXX has made history by becoming the first body-on-frame SUV to secure a 5-star Bharat-NCAP rating, achieving the highest overall score by any ICE vehicle in Bharat-NCAP testing.
Read moreProcess Equipment
Epigral Limited to expand CPVC and Epichlorohydrin facilities
With this expansion, Epigral's total CPVC resin capacity will be elevated as the largest resin facility in the world and Epichlorohydrin will be the largest facility in India.
Read moreAuto & Auto Components
Mushin Labs raises $250K in seed series round led by Inflection Point Ventures
Mushin Innovation Labs, a pioneering SaaS startup, is transforming the automotive manufacturing industry with its advanced digital solutions.
Read moreRelated Products
Automation Studio Copilot
INDUSTRIAL AUTOMATION & TECHNOLOGY CONSULTANCY
B&R Industrial Automation offers a wide range of automation studio copilot.
Industrial Desalination System
INDUSTRIAL AUTOMATION & TECHNOLOGY CONSULTANCY
Shakunth Aqua Products offers a wide range of industrial desalination system. Read more
Industrial Castors & Wheels
INDUSTRIAL AUTOMATION & TECHNOLOGY CONSULTANCY
H M Gulamali offers a wide range of castors and wheels manufactured by Blickle, Germany. Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
