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‘Pace of manufacturing activity slows in Nov, PMI hits 3-month low’

While posting 56.3 in November, the seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) highlighted a strong improvement in business conditions, the headline number was down from 58.9 in October to a three-month low.

By: ENS Economic Bureau | Mumbai | Updated: December 2, 2020 12:38:35 pm
Purchasing Managers’ Index, manufacturing sector, PMI index, Covid crisis, economy news, Indian express newsStating that in case of other emerging economy, private debt to GDP ratio is well beyond 100 per cent, Kumar said that "so we need to increase private debt and this will happen when our banking sector will expand". (File)

The nation’s manufacturing sector lost momentum in November with the latest Purchasing Managers’ Index (PMI) declining from the October level, IHS Markit survey said.

While posting 56.3 in November, the seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) highlighted a strong improvement in business conditions, the headline number was down from 58.9 in October to a three-month low. “All three broad areas of the manufacturing industry recorded expansion, with growth led by consumer goods which was the only sector to see a stronger rate of increase,” it said.

Pollyanna De Lima, economics associate director at IHS Markit, said: “The Indian manufacturing sector remained on the right path to recovery, with strong growth of new orders.”

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