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1 September 2017
The
overall health of India's manufacturing sector improved in August due to
resumed growth of new orders, production and employment, a key macro-economic
data showed on Friday.
The
Nikkei India Manufacturing Purchasing Managers' Index (PMI), which is a
composite indicator of manufacturing performance, stood at 51.2 in August, up
from the index reading of 47.9 reported in July -- signalling "a renewed
improvement in the health of the sector".
An
index reading of above 50 indicates an overall increase in economic activity,
and below 50 an overall decrease. The
Total Investment & Insurance Solutions
"August's
PMI results showed that manufacturers in India recovered quickly from the sharp
slump that followed the introduction of the GST," said Pollyanna De Lima,
Principal Economist at IHS Markit and the author of the report. The Total Investment & Insurance
Solutions
"In
July, firms indicated that orders, production and purchasing had been postponed
due to lack of clarity about the new tax regime, but they have now been resumed
as manufacturers, suppliers and their clients have become more knowledgeable of
the GST rates." The Total
Investment & Insurance Solutions
"All
sub-sectors posted substantial recoveries, with capital goods outperforming its
consumer and intermediate goods counterparts regarding growth rates for
production."The Total Investment
& Insurance Solutions
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