Manufacturing Purchasing Managers’ Index: Manufacturing activity in the country has picked up speed and June’s manufacturing PMI data is proof of that. June this year has seen the second best ever manufacturing figure. According to the latest survey by S&P Global, the Purchasing Managers’ Index (PMI) reading for the manufacturing sector came in at 57.8 in June, marginally lower than in May last month.
What was the manufacturing PMI in May?
The manufacturing PMI reading for May stood at 58.7, a consistent reading above 50. The manufacturing PMI data remained above 50 in June as well.
What was the reason for the slight decline in June?
Economic manufacturing activity picked up in June on healthy demand despite high inflationary pressures. However, the data shows that the situation was slightly better in May. Good output growth in the country indicates better conditions on the employment front. Also it is indicative of good balance between industrial demand and production.
What is the Manufacturing PMI?
A manufacturing PMI number above 50 means that the economy of the country is strong and the pace of manufacturing activities is good. On the other hand, if it remains below 50, it means that the economy is weakening.
Pollyanna De Lima, associate director of economics at S&P Global Market Intelligence, said the figures show continued good demand for goods made in India. This applies to both domestic and international markets. The manufacturing industry is buoyed by positive client support.
Today, the stock market is witnessing a huge boom. The stock market has touched record highs for the third day in a row. Nifty crossed 19250 level for the first time and Bank Nifty crossed 45,000 level for the first time. Sensex crosses 65,000 for the first time and trades at new highs. Investors have been excited by the rally in Sensex and the market cap has also seen a huge increase and has reached close to 300 lakh crores.
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