While the Purchasing Managers’ Index (PMI) rose for the third month in a row, there was little change in employment for the second month in a row.
According to the Purchasing Managers’ Index (PMI), India’s manufacturing sector registered a boom in September. which increased from 52.3 in August 53.7 in September, while price pressures intensified due to raw material shortages and high fuel and transportation costs.
This is the third straight month of expansion in manufacturing activity, with consumer goods output showing the highest growth, accelerating international sales and improving business confidence with production expected to rise in the coming year despite the pandemic. Happening. A reading of 50 on PMI indicates no change in activity.
however, was less change in employment for the second consecutive month. In July, PMI surveys reported an increase in recruitment for the sector for the first time after 15 months of job losses, but that was followed by a moratorium on hiring in August.
“Companies continued to buy additional inputs in September, but jobs changed little in the month,” said Poliana de Lima, economics associate director at IHS Markit, which compiled the PMI. prevented from hiring,” she said.
Thanks to the easing of COVID-19 restrictions and tightening demand conditions, firms reporting growth citing favorable market conditions and improving sales volumes.
“Indian manufacturers ramped up production substantially in September as they geared up for recovery in demand and replenishment of stocks. There was a substantial pick-up in new work intakes, with some contribution from international markets,” said Ms. de Lima.
Increase in the prices of fuel, raw materials and transportation Input cost pushed up the overall rate of inflation at a five-month high. However, production prices increased at a slow and only moderate rate, indicating that producers were not passing the burden of additional costs entirely on to customers.
To accommodate progress with increased sales and production schedules, companies purchased additional raw materials and semi-finished items. IHS Markit said in a statement that the pace of input purchase growth was marked in terms of historical data and accelerated since August.
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