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 Manufacturing Sector Growth Slows in April Amid Election Uncertainty: PMI

This is the 21st 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.

PTI

Updated:May 2, 2019, 11:35 AM IST
facebookTwitterskypewhatsapp
India's Manufacturing Sector Growth Slows in April Amid Election Uncertainty: PMI
A worker grinds a metal gate inside a furniture manufacturing factory in Ahmedabad (Reuters) Representative image
Loading...

New Delhi: The country's manufacturing sector performance eased to an eight-month low in April as new business growth moderated, curbed by the elections and a challenging economic environment, a monthly survey showed Thursday.

The Nikkei India Manufacturing Purchasing Managers' Index declined from 52.6 in March to 51.8 in April, reflecting weakest improvement in business conditions since August 2018.

This is the 21st 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.

April PMI data indicated that softer increase in new orders restricted growth of output, employment and business sentiment

"Although remaining inside expansion territory, growth continued to soften and the fact that employment increased at the weakest pace for over a year suggests that producers are hardly gearing up for a rebound," said Pollyanna De Lima, Principal Economist at IHS Markit and author of the report, said.

When looking at reasons provided by surveyed companies for the slowdown, disruptions arising from the elections was a key theme, Lima said, adding that "firms also seem to have adopted a wait-and-see approach on their plans until public policies become clearer upon the formation of a government".

The general election, that began on April 11, is currently underway. Votes will be counted on May 23.

On the prices front, input cost inflation eased to a 43-month low while the rate of charge inflation was marginal and below its long-run average.

"With price pressures in the manufacturing economy cooling and growth losing momentum, it's increasingly likely that the RBI may cut its official rate for a third successive time in June," Lima said.

The next meeting of RBI's Monetary Policy Committee is scheduled on June 3-6.

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
Yes Bank 54.10 -15.60
Maruti Suzuki 5,971.75 -2.02
Indiabulls Hsg 394.75 -5.84
ICICI Bank 386.60 -3.19
HDFC 1,974.60 -0.69
Company Price Change %Gain
Maruti Suzuki 5,938.30 -2.55
Yes Bank 54.15 -15.52
Tata Power 64.65 0.94
Indiabulls Hsg 395.15 -5.73
ICICI Bank 386.55 -3.16
Top Gainers
Company Price Change %Gain
Tata Motors 124.20 2.01
UPL 562.05 0.90
HDFC Bank 1,101.05 0.66
Bharti Airtel 337.60 0.60
Coal India 193.45 0.57
Company Price Change %Gain
Tata Motors 124.25 1.97
HDFC Bank 1,100.40 0.64
Bharti Airtel 337.70 0.58
Coal India 193.45 0.49
Asian Paints 1,554.35 0.40
Top Losers
Company Price Change %Gain
Yes Bank 54.10 -15.60
Zee Entertain 308.85 -7.92
Tata Steel 344.65 -3.80
IndusInd Bank 1,282.25 -3.62
ICICI Bank 386.60 -3.19
Company Price Change %Gain
Yes Bank 54.15 -15.52
Tata Steel 344.95 -3.66
IndusInd Bank 1,281.95 -3.59
ICICI Bank 386.55 -3.16
Maruti Suzuki 5,938.30 -2.55

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results