Purchasing Managers’ Index (PMI) slid to 48.1 in June: IHS Markit
The Hindu
India’s manufacturing industry slid back to a decline in June, as per the IHS Markit Manufacturing Purchasing Managers’ Index (PMI), which fell to 48.1 in June from 50.8 in May, marking the first time
India’s manufacturing industry slid back to a decline in June, as per the IHS Markit Manufacturing Purchasing Managers’ Index (PMI), which fell to 48.1 in June from 50.8 in May, marking the first time since July 2020 that the index fell below the no-change mark of 50. Companies were at their least optimistic for almost a year and jobs continued to be shed for the fifteenth month in a row, the firm said in its India PMI statement. Buying levels fell at a marked pace that was among the fastest seen since PMI data collection started in March 2005, as weak demand and a reduction in production requirements led firms to restrict input purchasing in June.
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