Manufacturing Sector improves in December 2019
The London based Global information provider, IHS Markit Limited has reported that the Purchasing Managers’ Index (PMI) of the Indian Manufacturing Sector has risen to 52.7 percent in the last month of 2019. According to the IHS Markit Company, India’s PMI in manufacturing sector during the year 2019 was: 51.2 percent in November, 50.6 percent in October, 51.4 percent in both the months of August and September, 52.5 percent in July, 52.1 percent in June, 52.7 in May, 51.8 percent in April and 52.6, 54.3 and 53.9 percent respectively in the months of March, February and January.
As per a Survey report on 2nd January 2020, new work orders have resulted in improving operating conditions in the month of December in the manufacturing sector of India, which rose at the fastest pace in December as compared to the last ten months of 2019. In the last six years, India’s economy grew at the slowest pace during the 2nd quarter of FY 2019-20, the index report of IHS Markit will bring something to cheer about. The First Advance Estimates of National Income 2019-20 will be released next Tuesday, 7th January 2020.