Factory activity quickens
The manufacturing sector witnessed faster growth in April amid quicker increases in production as well as factory orders, and renewed expansion in international sales, a monthly survey said.
The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) rose from 54 in March to 54.7 in April, as a retreat of Covid-19 restrictions continued to support demand.
The April PMI data pointed to an improvement in overall operating conditions for the tenth straight month. In PMI parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
“Manufacturing PMI remained well inside positive territory during April, recovering some of the ground lost in March. Factories continued to scale up production, with the ongoing increases in sales and input purchasing, suggesting that growth will be sustained in the near-term,” said Pollyanna De Lima, economics associate director at S&P Global.