Gkseries.com

India’s Manufacturing PMI Eases to 3-Month Low in July Amid Inflationary Pressure

India’s Manufacturing PMI Eases to 3-Month Low in July Amid Inflationary Pressure

India’s Manufacturing PMI Eases to 3-Month Low in July Amid Inflationary Pressure: The manufacturing sector in India saw a minor slowdown in July, with the Purchasing Managers’ Index (PMI) dipping to 57.7 from 57.8 in June and 58.7 in May. However, the figure still indicates expansion in the sector. The buoyant demand, both domestic and in exports, played a crucial role in maintaining the growth momentum. Despite the recent easing in inflation, higher inflationary pressures remained a challenge for manufacturers.

Daily Current Affairs Quiz: August 2023

Robust Demand Drives Growth in Indian Manufacturing Sector

The manufacturing PMI for India declined to 57.7 in July, but remained above the 50-mark, indicating expansion. Buoyant demand from both domestic and export markets continued to drive growth in the sector. Production lines have remained operational, with a significant rise in new orders resulting in consistent monthly output growth since July 2021.

Employment Expands as Firms Respond to Capacity Pressure

Export Business Picks Up; Domestic Manufacturing Remains Strong

Inflationary Pressures Pose Challenges

RBI’s Monetary Policy Response

Future Projections and Optimism

Exit mobile version