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Manufacturing PMI
Why is it in the news?
- India’s manufacturing activity grew at its fastest pace in three months in May.
- The growth is led by consumer goods, a private survey showed, raising hopes of a reversal in demand slowdown that had resulted in economic growth decelerating to a five-year low in 2018-19.
More in the news
- The Nikkei India Manufacturing Purchasing Managers’ Index, improved to 52.7 in May from 51.8 in April.
- This is the 22nd consecutive month that the manufacturing PMI has remained above the 50-point mark.
- In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.
The government said there were signs of high growth ahead.
- Turnaround in demand and financing conditions beginning very well.
- Crude is moving towards 60 dollars.
- Government bond yield has gone below 7%.
- Spread for NBFCs/ HFCs over government bond is narrowing. Rupee is firmly below 70. Sure signs of coming high growth.
- India’s economy grew slower than expected to a 20-quarter low in the quarter to March, dragging overall growth to a five-year low in 2018-19.
Source
The Hindu.