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Manufacturing PMI
Why is it in the news?
- As per the private survey, Manufacturing activity slowed in June due to lesser number of new orders.
Manual Scavenging in India
- The Nikkei India Manufacturing Purchasing Managers’ Index stood at 52.1 in June, down from the three-month high of 52.7 in May.
- A reading over 50 indicates an expansion, while one below 50 denotes a contraction in activity.
- A softer increase in new work intakes translated into slower rises in output and employment, while the upturn in quantities of purchases strengthened.
- According to the report, consumer goods was the key source of growth, with the sector registering robust increases in sales, output, and employment in June.
- The intermediate goods sector saw a modest expansion in production and new work, but employment stagnated.
- Manufacturing PMI:(1) PMI or a Purchasing Managers' Index (PMI) is an indicator of business activity- both in the manufacturing and services sectors.(2) This index is prepared on the basis of a survey which is conducted among purchasing executives in over 400 companies.(3) Index over 50 shows expansion, while below 50 mean contraction.(4) Prepared by IHS Markit, this index is widely quoted to explain latest industrial situation in a nation.
Source
The Hindu.