New Delhi, August 3
India’s manufacturing sector exercise contracted at a barely sooner tempo in July as demand situations remained subdued amid extended closures, following which companies decreased each employees numbers in addition to buying exercise, a month-to-month survey stated on Monday.
The headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) stood at 46 in July, down from 47.2 in June.
This is the fourth straight month of contraction for the Indian manufacturing sector.
In April, the index had slipped into contraction mode, after remaining within the development territory for 32 consecutive months.
In PMI parlance, a print above 50 means enlargement, whereas a rating under that denotes contraction. — PTI