NEW DELHI: India’s manufacturing sector activity was largely flat in April, as rates of growth for new orders and output eased to eight-month lows amid the intensification of the COVID-19 crisis, a monthly survey said on Monday.
The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) was at 55.5 in April, little changed from March’s reading of 55.4.
In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.
“The PMI results for April showed a further slowdown in rates of growth for new orders and output, both of which eased to eight-month lows amid the intensification of the COVID-19 crisis,” said Pollyanna De Lima, Economics Associate Director at IHS Markit.
Lima also noted that “the surge in COVID-19 cases could dampen demand further when firms’ financials are already susceptible to the hurdle of rising global prices.”
The daily COVID-19 cases in India showed a slight dip with 3,68,147 new coronavirus infections being reported in a day, taking the total tally of cases to 1,99,25,604, according to the Union Health Ministry data updated on Monday.
“The headwinds facing manufacturers cannot be ignored, however. The surge in COVID-19 cases could dampen demand further when firms’ financials are already susceptible to the hurdle of rising global prices,” Lima said. —PTI

Press Trust of India