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Factory activity slows to 7-month low on renewed Covid-19 lockdowns

After a year-long spree of job cuts, factories intensified the rate of layoffs to its strongest in six months in March. (Representative image) BENGALURU: India s factory activity grew at its weakest pace in seven months in March as renewed lockdowns to curtail a resurgence in Covid-19 cases dampened domestic demand and output, a private survey showed, forcing firms to cut headcount again. Last week, the government advised states to try and control the rapid spread of the virus. Tighter restrictions on activity suggest factories could be in for a tough April. The Nikkei Manufacturing Purchasing Managers Index, compiled by IHS Markit, declined to a seven-month low of 55.4 last month from February s 57.5, but remained above the 50-level separating growth from contraction for an eighth straight month.

India Manufacturing PMI Records Slowest Growth In Seven Months

India s manufacturing sector grew at its weakest pace in seven months in March on renewed lockdowns to curtail a resurgence in COVID-19 cases. The Nikkei Manufacturing Purchasing Managers Index or PMI, compiled by IHS Markit, dropped to a seven-month low of 55.4 last month from February s 57.5, but remained above the 50-level separating growth from contraction for an eighth straight month. The foreign orders grew at a faster pace in March, but a sub-index tracking overall demand declined to its lowest since August 2020. Output also grew at its weakest pace in seven months. Powered by Capital Market - Live News (This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Factory Activity Slows To Seven-Month Low On Renewed COVID-19 Lockdowns

Manufacturing PMI dips to 7-month low on renewed COVID-19 lockdowns

Manufacturing PMI dips to 7-month low on renewed COVID-19 lockdowns
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India s factory activity extends growth in February, input costs soar

NEW DELHI: India s factory activity expanded for the seventh straight month in February, driven by strong demand and increased output, according to a private sector survey that also showed input costs inflation hitting a 32-month high. Although the Nikkei Manufacturing Purchasing Managers Index , compiled by IHS Markit, eased slightly to 57.5 in February from 57.7 in January, it was well above the 50-level separating growth from contraction. Sub-indexes showed output and new orders rose sharply last month, albeit at a slower pace than in January, indicating strong demand. Indian goods producers reported a healthy inflow of new orders in February, a situation that underpinned a further upturn in output and quantity of purchases, noted Pollyanna De Lima, economics associate director at IHS Markit.

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