BUSINESS

Manufacturing Activity Eases Marginally in Feb, PMI at 57.5

Manufacturing activity in India eased marginally in February and employment decreased further amid the Covid-19 restrictions, a private survey showed Monday. The IHS Markit India Manufacturing Purchasing Managers’ Index was 57.5 in February compared to 57.7 in January but remained above its long-run average of 53.6.

A reading above 50 indicates expansion while below that signals contraction. As per the survey, better demand conditions and successful marketing campaigns reportedly underpinned a further increase in new orders during February. “Although easing from January, the pace of growth remained sharp in the context of historical data,” IHS Markit said in the report. India’s economy grew 0.4 per cent year-on-year in the October-December quarter, putting an end to the pandemic-led technical recession. Manufacturing rose 1.6 per cent in Q3.

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