• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

India’s factory activity improved in Sept as demand strengthened

October 1, 2021 by David Barret Leave a Comment

October 1, 2021

BENGALURU (Reuters) – India’s factory activity improved last month as a recovery in the economy from the pandemic-induced slump boosted demand and output, according to a private survey, but firms reduced headcount at the sharpest pace since May.

That recovery might continue for at least a few months,supported by ultra-easy monetary policy and continued fiscalspending.

A hike in the Reserve Bank of India’s key interest ratelooks to be a rare possibility until at least next fiscal yearand India’s government said earlier this week it would continuewith its borrowing-backed spending to revive the economy.

The Manufacturing Purchasing Managers’ Index,compiled by IHS Markit, rose to 53.7 in September from 52.3 inAugust, staying above the 50-level separating growth fromcontraction for the third straight month.

“Indian manufacturers lifted production to a greater extentin September as they geared up for improvements in demand andthe replenishment of stocks,” noted Pollyanna De Lima, economicsassociate director at IHS Markit.

“There was a substantial pick-up in intakes of new work,with some contribution from international markets.”

Improvements in both domestic and overseas demand saw neworders expand at a quicker pace in September and factoriesraised output at a significantly faster rate compared to August.

However, that failed to encourage factories to hire moreworkers – a much needed step to boost weak labour marketconditions – and instead they reduced their workforce at thesharpest pace in four months.

“Companies continued to purchase extra inputs in September,but jobs were little changed over the month. In some instances,survey participants indicated that government guidelinessurrounding shift work prevented hiring,” added De Lima.

Meanwhile, after moderating in the first two months of lastquarter input cost inflation hit a five-month high, partlydriven by rising fuel prices, transportation costs andsupply-chain disruptions.

But output prices increased at a weaker pace, indicatingfirms were only able to partially pass on the extra costs tocustomers.

Still, optimism about the year ahead improved slightly lastmonth as a continued easing of pandemic mobility restrictionsraised hopes for a further improvement in demand.

(Reporting by Indradip Ghosh; Editing by Kim Coghill) (([email protected]; +91 98742 85145)) nZRN002WZO

Source Link India’s factory activity improved in Sept as demand strengthened

David Barret
David Barret

Related posts:

  1. GameStop shares subdued on lack of rejig details
  2. N.Korea puts hazmat suits on parade for national day, but no missiles
  3. Buy now, pay later plans not shrinking credit card loans, says TransUnion
  4. Some Evergrande offshore bondholders don’t expect payment by Thursday deadline – source

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • COVID-19 Can Lead To Build Up Of Alzheimer’s-Linked Protein Clumps In Eyes And Brain
  • The Wild Life Of Snowflake, The Only Albino Gorilla Ever Known
  • Stunning Drone Footage Reveals Largest Turtle Nesting Site In The World, Containing 41,000 Females
  • New “Different Form” Of Type 1 Diabetes Found In Sub-Saharan African And Black American Patients
  • Neanderthals May Have Feasted On Maggots, Which They Harvested From Rotting Flesh
  • Common Cannabis Substitute May Be Far More Psychoactive Than Previously Thought
  • This Is The Most Bizarre International Border In The World
  • Earth Will Not Fall Into Darkness Next Week – But There Is An “Eclipse Of The Century” In 2027
  • 850,000-Year-Old Remains Suggest Prehistoric Child Was Decapitated And Eaten By Its Own Kind
  • How To Watch The ISS As It Crosses The US Night Sky In The Next Few Days
  • “Robo-Bunnies” Are Florida’s Newest Weapon Against Python Invaders
  • Are We About To Get The First-Ever Negative Leap Second?
  • There’s A Hidden Code In Your DNA And Scientists Have Just Identified It
  • Mesmerizing Drone Footage Captures Rare Glimpse Of Critically Endangered Wedgefish
  • The Universe Might End Sooner Than We Thought – But Don’t Worry, We’ve Still Got 33 Billion Years
  • Giant Prehistoric Whale Graveyard Revealed By Disappearing Glacier In The Russian Arctic
  • Surprising JWST Observations Hint We Might Be Inside A Black Hole
  • Ötzi The Iceman’s DNA Reveals He Belonged To A Previously Unknown Genetic Lineage
  • First Antiproton Quantum Bit Created At CERN’s Antimatter Factory
  • Killer Fur: There’s Only One Poisonous Rodent In The World, And It Can Take Out An Elephant
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version