India PMI manufacturing up at three-month high in July as lockdowns ease

Jumps to 3-month high after June contraction; marginal rise in jobs

Manufacturing activity in India rebounded to a three-month high in July after contracting in the previous month, a private sector survey showed on Monday.

The IHS Markit Manufacturing Purchasing Managers’ Index (PMI) rose to 55.3 in July from 48.1 in June, well above the 50-level separating growth from contraction. Factory activity in June had slipped into contraction for the first time in 11 months.

The PMI corroborated the upswing in other parameters of the economy. For example, goods and services tax collection in July stood at Rs 1.16 trillion, as against Rs 92,849 crore in June.

“It’s encouraging to see the Indian manufacturing