The Indian manufacturing sector, which is hoping for a revival this financial year, has failed to make much progress in the first month with factory activity remaining unchanged from the previous month.
The HSBC Manufacturing Purchasing Managers' Index (PMI), which tracks activities in factories in the country, was at 51.3 in April, the same as in March, reflecting mild expansion. A reading of over 50 on this survey-based index indicates expansion, while below that mark shows contraction.
The index is compiled by global business survey provider Markit, based on feedback from nearly 500 large manufacturing units.
The data suggests that the economy is not showing any clear sign of pick up even though most forecasts say it will do better than 4.9% growth expected in 2013-14.
The sub-index for new orders fell marginally to 52.5 in April from 52.7 in March because of tepid export demand. The sector is expected to shrink 0.2% in 2013-14 from the previous year as per the Central Statistical Organisation’s estimation .
Production of consumer goods fell 2.8% in the April-February period of the last fiscal from a year ago period, while consumer durables output declined by 12.2%, reflecting weak demand.
The HSBC Manufacturing Purchasing Managers' Index (PMI), which tracks activities in factories in the country, was at 51.3 in April, the same as in March, reflecting mild expansion. A reading of over 50 on this survey-based index indicates expansion, while below that mark shows contraction.
The index is compiled by global business survey provider Markit, based on feedback from nearly 500 large manufacturing units.
The data suggests that the economy is not showing any clear sign of pick up even though most forecasts say it will do better than 4.9% growth expected in 2013-14.
The sub-index for new orders fell marginally to 52.5 in April from 52.7 in March because of tepid export demand. The sector is expected to shrink 0.2% in 2013-14 from the previous year as per the Central Statistical Organisation’s estimation .
Production of consumer goods fell 2.8% in the April-February period of the last fiscal from a year ago period, while consumer durables output declined by 12.2%, reflecting weak demand.
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