28.8 C
Delhi
Tuesday, September 29, 2020

New products, healthy demand boost production growth: PMI survey

- Advertisement -

New Delhi, Jan 3 (IANS) New product drives, along with healthy demand conditions boosted production growth during December 2019, a survey report said on Thursday.

Accordingly, the IHS Markit India Manufacturing PMI said that India”s manufacturing output rose at “a marked pace in December, the joint-fastest in ten months”.

The seasonally adjusted PMI reading rose to 52.7 in December from 51.2 in November.

An index reading of above 50 indicates overall increase compared with the previous month, and below 50 the decrease.

Nonetheless, owing to a weak performance in October and November, the average quarterly reading for Q3 FY20 was the lowest since the three months to September 2017, the survey report said.

Besides, at the sub-sector level, growth was led by consumer goods, “though intermediate goods also made a stronger contribution to the headline figure”.

On the other hand, “capital goods remained in contraction”.

Besides, the uptick in total sales was supported by higher demand from overseas. New export orders expanded for the twenty-sixth month in a row, albeit modestly, the survey report said.

“Factories benefited from a rebound in demand, and responded by scaling up production to the greatest extent since May. There were also renewed increases in input purchasing and employment during December,” said Pollyanna de Lima, Principal Economist at IHS Markit.

“However, a note of caution is evident from the survey”s measure of business confidence. The degree of optimism signalled at the end of 2019 was the weakest in just under three years, reflecting concerns over market conditions, which could restrict job creation and investment in the early part of 2020.”

In terms of price points, indicators showed an accelerated rate of inflation for both input costs and output charges.

–IANS

India Updates
India Updates is an independent news & Information website. Follow us for regular updates on News and Information.

Follow Us On

Related News

Rs 3L cr PLI scheme for 10 sectors to boost domestic manufacturing

By Subhash Narayan, (IANS) In a major push to domestic manufacturing in the country, the government proposes to pump in over Rs 3 lakh...

India emerging as big manufacturing centre, says Ravi Shankar Prasad

New Delhi, September 7 (ANI): Union Minister Ravi Shankar Prasad on Sunday said that the global manufacturer ecosystem is realising that they must have...

No restrictions on imports in new trade policy

By Mahua Venkatesh, Aug 22 (IANS) The government, which has started work on drafting the new foreign trade policy, is set to focus on...

Covid Continues To Dent India’s Factory Output In July: PMI

New Delhi: Subdued demand conditions, on back of the Covid-19 pandemic, continued to dent India’s manufacturing sector output in the month of July.The latest...

India’s core industrial output plunges by over 23% in May

New Delhi (IANS) Output pace of India''s eight major industries plunged in May 2020 by over 23 per cent, official data showed on Tuesday.However,...

Manufacturing activity resumes partially, clarity on norms still needed

New Delhi, May 5 (IANS) As the lockdown relaxations come in starting Monday and manufacturing of consumer durables resume partially, most companies feel that...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Topics In India

Covid 19 India Updates

Health ministry launches web portal for COVID-19 vaccine updates

New Delhi, Sep 28 (PTI) The Union Health Ministry on Monday launched a web portal that will provide all important information on COVID-19, vaccine...

Health ministry launches web portal for COVID-19 vaccine updates

New Delhi, Sep 28 (PTI) The Union Health Ministry on Monday launched a web portal that will provide all important information on COVID-19, vaccine...

Dependence of global supply chain on single source exposed: PM Modi

New Delhi, Sep 28 (PTI) The coronavirus pandemic has shown the risk involved in excessive dependence of the global supply chain on any single...

Over 3,000 vaccinated against coronavirus in Moscow

Moscow, Sep 28 (IANS) More than 3,000 people in Moscow have been vaccinated against the novel coronavirus, the media has reported."More than 3,000 volunteers...

SC seeks UPSC response for not postponing exams scheduled on Oct 4

New Delhi, Sep 28 (IANS) The Supreme Court on Monday sought response from the UPSC as to why the Civil Services (Preliminary) examinations, scheduled...

Clinical trial of Ayurvedic remedy for Covid-19 shows groundbreaking results

New Delhi, Sep 28 (IANS) A groundbreaking interim report on a clinical trial being conducted in three hospitals has shown that Covid-19 patients on...

Trending News In India

Security at Ladakh is uneasy, ‘no war no peace’ status: IAF chief

New Delhi, Sep 29 (PTI) The present security scenario along our northern frontiers is at an uneasy "no war no peace" status, Chief of...

New global test will give Covid test results ‘in minutes’

Geneva, Sep 29 (IANS) A test that can diagnose Covid-19 in minutes will dramatically expand the capacity to detect cases in low- and middle-income...

India can now take defence assets on lease

New Delhi, Sep 29 (IANS) India can take defence assets on lease as and when required and operate without owning thereby, substituting huge initial...

Microsoft joins telecommunications industry to roll out 5G, more

San Francisco, Sep 29 (IANS) Microsoft on Monday announced a partnership with the telecommunication industry globally to unlock the power of 5G and bring...

Kohli wins Super Over thriller for RCB, Kishan’s 99 in vain

Dubai, Sep 29 (IANS/GloFans) In yet another roller-coaster contest, Royal Challengers Bangalore (RCB) edged out Mumbai Indians (MI) in a Super Over tie-breaker - the...

Rs 3L cr PLI scheme for 10 sectors to boost domestic manufacturing

By Subhash Narayan, (IANS) In a major push to domestic manufacturing in the country, the government proposes to pump in over Rs 3 lakh...

Trending Showbiz

NCB seizes phones of Deepika, Rakul, Simone, Karishma in drugs case

Mumbai, Sep 26 (IANS) The Narcotics Control Bureau (NCB), which quizzed Bollywood actors Rakul Preet Singh, Deepika Padukone, her former manager Karishma Prakash, and...

NCB quizzes Deepika, Sara, Shraddha in drug case related to SSR death

Mumbai, Sep 26 (IANS) The Narcotics Control Bureau (NCB) on Saturday questioned Bollywood divas Deepika Padukone, Sara Ali Khan, Shraddha Kapoor for several hours...

‘CBI delay in converting abetment to suicide to murder frustrating’

Mumbai, Sep 25 (IANS) Vikas Singh, family lawyer of late actor Sushant Singh Rajput, on Friday stated that the delay being by Central Bureau...

NCB questions Rakul, Deepika’s ex-manager, Dharma Productions honcho

Mumbai, Sep 25 (IANS) The Narcotics Control Bureau (NCB) on Friday is questioning Bollywood actor Rakul Preet Singh, Dharma Productions executive producer Kshitij Ravi...

Famed singer S.P. Balasubrahmanyam succumbs to Covid-19

Chennai, Sep 25 (IANS) Famed playback singer and Padma awardee S.P. Balasubrahmanyam, or popularly SPB or Balu in the movie world and who has...

Trending Sports

Kohli wins Super Over thriller for RCB, Kishan’s 99 in vain

Dubai, Sep 29 (IANS/GloFans) In yet another roller-coaster contest, Royal Challengers Bangalore (RCB) edged out Mumbai Indians (MI) in a Super Over tie-breaker - the...

ICC gets recognition for two digital initiatives in Leaders in Sports Awards

Dubai, Sep 28 (PTI) The International Cricket Council (ICC) has been recognised for its twin digital initiatives at the prestigious Leaders in Sports Awards...

Played nearly 500 games, can speak to any player says Ganguly

Kolkata, Sep 28 (PTI) His nearly "500 international match experience" gives him the right to speak and guide any player "be it Shreyas Iyer...

Went through rigorous physical, mental transformation for 1996 Olympics, says Paes

New Delhi, Sep 28 (IANS) The year was 1996 and no Indian had won an individual medal at the Olympics 44 years prior to...

Sensational Tewatia hits five sixes in an over as RR defeats KXIP

Sharjah, Sep 28 (PTI) Rahul Tewatia struck five sixes in an over at the fag end of the match as Rajasthan Royals recorded the...

Gill stars as clinical KKR thrash SRH by 7 wkts

Abu Dhabi, Sep 27 (IANS/GloFans) Opener Shubhman Gill's unbeaten 70-run knock along with Eoin Morgan's 42 not out guided Kolkata Knight Riders (KKR) to...

Latest Trending News In India

Security at Ladakh is uneasy, ‘no war no peace’ status: IAF chief

New Delhi, Sep 29 (PTI) The present security scenario along our northern frontiers is at an uneasy "no war no peace" status, Chief of...

New global test will give Covid test results ‘in minutes’

Geneva, Sep 29 (IANS) A test that can diagnose Covid-19 in minutes will dramatically expand the capacity to detect cases in low- and middle-income...

India can now take defence assets on lease

New Delhi, Sep 29 (IANS) India can take defence assets on lease as and when required and operate without owning thereby, substituting huge initial...

Microsoft joins telecommunications industry to roll out 5G, more

San Francisco, Sep 29 (IANS) Microsoft on Monday announced a partnership with the telecommunication industry globally to unlock the power of 5G and bring...

Kohli wins Super Over thriller for RCB, Kishan’s 99 in vain

Dubai, Sep 29 (IANS/GloFans) In yet another roller-coaster contest, Royal Challengers Bangalore (RCB) edged out Mumbai Indians (MI) in a Super Over tie-breaker - the...