Business Standard

Monday, December 23, 2024 | 05:41 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

Manufacturing growth falls in Aug on Covid curbs, rising input costs: PMI

The index for manufacturing fell to 52.3 in the month from 55.3 in July, forcing companies to pause their hiring efforts

manufacturing
Premium

A commentary associated with the PMI survey said business confidence was dampened by concerns surrounding the damaging impact of Covid-19 on demand and firms' finances

Indivjal Dhasmana New Delhi
Factory activity lost momentum in August as Covid-induced curbs and rising input costs weighed on demand, forcing firms to put hiring on hold, showed a private survey on Wednesday, a day after the GDP data showed robust manufacturing growth in the June quarter.
 
IHS Markit purchasing managers’ index (PMI) for manufacturing fell to 52.3 in the month from 55.3 in July. A reading above 50 indicates expansion and one below that shows contraction. PMI was 48.1 in June. Employment levels were broadly stagnant in August as companies had sufficient staff to cope with current requirements and confidence remained subdued.

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in