September 30, 2020

Manufacturing PMI signals

Shyamasri Bandyopadhyay:-Manufacturing PMI signals growth for first time in five months.

Easing of lockdown improves factory performance,

but employment continues to decline.

A day after the announcement of the steepest contraction ever in GDP,

there is something to cheer.

Factories in India have shown the best performance in five months,

with the Manufacturing Purchasing Managers’ Index (PMI) at 52 for August,

against 46 for July.

A reading above 50 indicates an overall increase month-on-month.