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New Delhi March 10 (PTI): Giving mixed signals for upturn in manufacturing growth, a Ficci survey today said the sector is expected to get a boost during the fourth quarter from steps taken by the government in the last few months, including those announced in the budget.
The report said the number of respondents reporting higher levels of production in the fourth quarter of 2012-13 had dropped to 36 per cent from over 40 per cent in the previous few quarters.
“Some upturn is evident in sectors such as leather, textiles, food products and cement. But some major sectors such as automotive and capital goods are expected to witness sluggish growth in the current quarter,” the report said.
Of the 327 units which participated in the study, over 39 per cent respondents reported higher order books for January-March 2012-13 compared with 33 per cent in the third quarter of 2012-13.
A majority of the respondents said they did not have any plan for capacity addition in the next six months, the survey said, adding that 30 per cent reported that they are carrying more than their average levels of inventories in sectors such as automotive, capital goods and textiles machinery.
Further, it said the export outlook for manufacturing seems to have again turned bleak.
“For the current quarter (Q4), 40 per cent expect their export levels to be higher than last year for the same quarter. In the previous survey, we had 54 per cent respondents expecting exports to be higher in Q3 vis-a-vis the same quarter last year,” it said.
Over 75 per cent said they were not likely to hire new people in the next three months.
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