Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

India's February Manufacturing Activity Hits 14-month High as Sales, Output, Employment Accelerate

The Nikkei India Manufacturing Purchasing Managers' Index rose to 54.3 in February, from 53.9 in January, amid a robust improvement in business conditions.

PTI

Updated:March 1, 2019, 8:07 PM IST
facebookTwitterskypewhatsapp
Loading...

New Delhi: The country's manufacturing sector performance further strengthened in February and touched a 14-month high driven by acceleration in sales, output and employment, a monthly survey showed Friday.

The Nikkei India Manufacturing Purchasing Managers' Index rose to 54.3 in February, from 53.9 in January, amid a robust improvement in business conditions.

This is the 19th consecutive month that the manufacturing PMI remained above the 50-point mark. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.

According to the survey, the February data reflected strongest improvement in business conditions since December 2017, sharpest rise in factory orders for 28 months and underpins faster increases in production and employment.

"The Indian manufacturing sector made further progress midway through the final quarter of FY18, building on the accelerated upturn noted in January," said Pollyanna De Lima, Principal Economist at IHS Markit and author of the report.

Lima further noted that the upturn in employment was one of the best seen for six-and-a-half years, as goods producers sought to expand output capacities to meet strengthening demand from both domestic and external sources.

On the inflation front, rates of both input cost and output charge inflation remained subdued by historical standards, despite picking up from January.

According to experts, the signs of easing inflationary pressures indicate that the Reserve Bank of India (RBI) is likely to adopt an accommodative monetary policy stance.

The next meeting of RBI's Monetary Policy Committee is scheduled on April 2-4.

"The survey results suggest that manufacturing will likely provide a stronger contribution to overall economic growth in the final quarter, provided that March's figures stay on this favourable path," Lima said.

For FY19, IHS Markit has revised higher its GDP growth forecast, from 7.0 per cent to 7.1 per cent, amid the announcement of fiscal stimulus for the new interim budget and the policy rate cut announced in February.

India's economic growth slipped to a 5-quarter low of 6.6 per cent in October-December period of 2018-19, mainly due to poor performance of farm, mining and manufacturing sectors, official data showed Thursday.

The Central Statistics Office (CSO), which released the national account data for the third quarter, also revised downwards the growth estimate for the full fiscal (2018-19) to 7 per cent from 7.2 per cent.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
HDFC 2,048.45 3.74
HDFC Bank 1,185.90 7.71
Reliance 1,251.00 6.10
Maruti Suzuki 6,594.00 10.42
ICICI Bank 417.65 8.03
Company Price Change %Gain
Astral Poly Tec 1,146.25 -0.60
SBI Life Insura 822.00 2.49
Zee Entertain 294.45 -4.65
HDFC 2,047.15 3.67
Maruti Suzuki 6,591.80 11.00
Top Gainers
Company Price Change %Gain
Eicher Motors 17,891.30 13.58
UltraTechCement 4,300.10 11.22
Maruti Suzuki 6,594.00 10.42
IndusInd Bank 1,415.80 10.42
Bajaj Finance 3,673.00 9.25
Company Price Change %Gain
Maruti Suzuki 6,591.80 11.00
IndusInd Bank 1,415.00 10.38
Bajaj Finance 3,676.00 9.31
SBI 297.90 8.70
Tata Steel 376.60 9.18
Top Losers
Company Price Change %Gain
Zee Entertain 294.35 -4.69
NTPC 119.30 -1.97
TCS 2,074.15 -1.32
HCL Tech 1,045.50 -0.39
Tech Mahindra 700.65 -0.38
Company Price Change %Gain
NTPC 119.25 -2.05
TCS 2,074.00 -1.34
HCL Tech 1,045.75 -0.32
Infosys 818.05 -0.36

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results