India’s PMI manufacturing index softens to 57.8 in June from 58.7 in May
India’s manufacturing industry expanded at the second-fastest rate this year in June, albeit at a slightly slower pace than in May, supported by robust demand despite higher inflationary pressures, data showed Monday. The S&P Global Manufacturing Purchasing Managers’ Index fell to 57.8 in June from May’s 58.7.
That marked two years of the index being above the 50-mark separating expansion from contraction.
Companies ramped up production to meet the rising sales in June. The expansion in output was sharp and among the fastest over the past year-and-a-half, the release said.
“June’s PMI results again showed robust demand for Indian-made products, both in the domestic and international markets,” Pollyanna De Lima, economics associate director at S&P Global Market Intelligence said. “Positive client interest continued to support the manufacturing industry, driving growth of output, employment, quantities of purchases and input stocks.”
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