Manufacturing Sector Ends 2021 On Strong Note Despite Dip In Momentum
NDTV
India's manufacturing sector ended 2021 on a solid footing with growth in new orders and output remaining sharp despite losing some momentum in December, but elevated price pressures were still a concern, a private survey showed.
Bengaluru: India's manufacturing sector ended 2021 on a solid footing with growth in new orders and output remaining sharp despite losing some momentum in December, but elevated price pressures were still a concern, a private survey showed.
The Manufacturing Purchasing Managers' Index, compiled and collected by IHS Markit December 6-17, fell to 55.5 in December from November's 57.6 though it stayed above the 50-mark that separates growth from contraction for a sixth month.
The survey results reinforce evidence of a continued recovery in Asia's third-largest economy from the coronavirus pandemic-induced slump. That and rising price pressures may add to expectations the Reserve Bank of India will tighten monetary policy earlier than thought, like some other central banks.
"The last PMI results of 2021 for the Indian manufacturing sector were encouraging, with the economic recovery continuing as firms were successful in securing new work from domestic and international sources," Pollyanna De Lima, economics associate director at IHS Markit, said in a release.
