PMI for India’s manufacturing sector rises in September
The Hindu
While the Purchasing Managers' Index (PMI) rose for the third consecutive month, there was little change in employment for the second month in a row
India’s manufacturing sector recorded an uptick in September as per the Purchasing Managers' Index (PMI), to 53.7 in September, even as price pressures intensified due to raw material shortages and high fuel and transport costs.
This marks the third straight month of expansion in manufacturing activity, with consumer goods showing the highest growth in output, international sales picking up momentum and business confidence improving with hopes of increasing production in the year ahead despite the pandemic. A reading of 50 on the PMI indicates no change in activity.
However, there was little for the second month in a row. In July, the PMI surveys had reported a rise in hiring for the first time after a 15-month streak of job losses for the sector, but it was followed by a pause on hiring in August.
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