Activity in India’s manufacturing sector grew at its slowest pace in four months in February but remained robust on the back of strong expansion in sales and output while input cost inflation ticked up higher, as per survey.
The S&P Global India Manufacturing Purchasing Managers' Index (PMI) was unchanged from its reading of 55. 4 in January, coming in at 55. 3 in February. The headline figure exceeded its 53-year average. 7. The distinction between expansion and contraction is 50 points. Responses to questionnaires distributed to buying managers in a panel of about 400 manufacturers make up the survey.
Amid reports of accommodative demand conditions and successful marketing campaigns, manufacturers experienced an increase in new work intakes. The upturn stretched the current sequence of growth to 20 months, according to the survey results.
With the devastating effects of the Covid-19, the manufacturing sector has planned a rebound, although the pace has remained unequal. The demand conditions have also been exacerbated by slowing exports, and the survey results reveal that fresh export orders only slightly increased.