Factory output eases in December
PMI mfg declines to 55.5 from 10-mth high of 57.6 in Nov; Mfg activity positive on sales rise; Supply-chain disruptions, Omicron concerns and inflationary pressures continue to impact the manufacturing sector
Factory output eases in December
New Delhi: India's manufacturing sector activities moderated in December, but output remained in the growth territory, amid slower rise in sales and new orders, even as business sentiment was dampened by concerns surrounding supply-chain disruptions, Covid-19 and inflationary pressures, a monthly survey said on Monday.
The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) eased to 55.5 in December, from November's ten-month high of 57.6. The December data pointed to a "substantial, albeit slower, rises in sales and output", the survey said, adding that the latest quarterly reading was at 56.3, its highest since the final quarter of fiscal year 2020/21.
The December PMI data pointed to an improvement in overall operating conditions for the sixth straight month. In PMI parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
