India’s manufacturing sector activity hits record low in April amid lockdown: PMI

The country’s manufacturing sector activity witnessed an unprecedented contraction in April amid national lockdown restrictions, following which new business orders collapsed at a record pace and firms sharply reduced their staff numbers, a monthly survey said on Monday. The headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) fell to 27.4 in April, from 51.8 in March, reflecting the sharpest deterioration in business conditions across the sector since data collection began over 15 years ago. The index slipped into contraction mode, after remaining in the growth territory for 32 consecutive months.




Read the Rest at INDIA TV

Leave a Reply

Your email address will not be published. Required fields are marked *