The HSBC India Manufacturing Purchasing Managers’ Index (PMI), a measure of factory production, edged up marginally from 51.3 in April to 51.4 in May, pointing to a slight improvement in operating conditions of the firms surveyed.
Activity in the sector expanded for the seventh consecutive month in May. A PMI reading above 50
The survey respondents said that output rose for amid stronger increases in new orders, although there were mentions that growth was stymied by powercuts and the elections.
Growth of both total new orders and new export business accelerated during the month, leading to further job creation across the sector, HSBC said.
Indian manufacturers indicated that purchasing activity increased further in May, however output charges increased further.
RBI had increased the key policy rate, repo, three times since Rajan took over as the Governor in September.
RBI’s next bi-monthly monetary policy review meet is scheduled for tomorrow.
However, output was unchanged at 51.7 points due to power shortages that forced firms to accumulate backlogs at a faster pace.
New export orders also bounced in May (53.7 vs. 53.0 in April), which also helped employment pick up slightly (50.6 vs. 50.2 in April) in light of strengthening order flows, HSBC said in a release.
In May, the quantity of purchases (51.8 vs. 53.0 in April) was weaker, despite the improvement in order flows. Meanwhile, stocks of purchases (49.9 vs. 52.1 in April) were drawn down and stocks of finished goods (51.0 vs. 52.7 in April) accumulated at a slower pace.
Activity in the sector expanded for the seventh consecutive month in May. A PMI reading above 50
The survey respondents said that output rose for amid stronger increases in new orders, although there were mentions that growth was stymied by powercuts and the elections.
Growth of both total new orders and new export business accelerated during the month, leading to further job creation across the sector, HSBC said.
Indian manufacturers indicated that purchasing activity increased further in May, however output charges increased further.
RBI had increased the key policy rate, repo, three times since Rajan took over as the Governor in September.
RBI’s next bi-monthly monetary policy review meet is scheduled for tomorrow.
However, output was unchanged at 51.7 points due to power shortages that forced firms to accumulate backlogs at a faster pace.
New export orders also bounced in May (53.7 vs. 53.0 in April), which also helped employment pick up slightly (50.6 vs. 50.2 in April) in light of strengthening order flows, HSBC said in a release.
In May, the quantity of purchases (51.8 vs. 53.0 in April) was weaker, despite the improvement in order flows. Meanwhile, stocks of purchases (49.9 vs. 52.1 in April) were drawn down and stocks of finished goods (51.0 vs. 52.7 in April) accumulated at a slower pace.
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