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Manufacturing cos' outlook negative in Oct-Dec
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SME Times News Bureau | 12 Oct, 2020
With businesses yet to revive amid the pandemic, the outlook for profit
margins by Indian manufacturing companies continues to remain negative
for the October-December quarter, according to a survey by the Reserve
Bank of India (RBI).
The 'Industrial Outlook Survey of the
Manufacturing Sector for Q2:2020-21' noted that respondents maintained
negative sentiments on selling prices and profit margins in the
July-September quarter, though pessimism moderated.
However,
manufacturers expect further improvements in production, capacity
utilisation and order books in Q3 of FY 2020-21. Going forward,
respondents polled some recovery in the external demand situation and
job landscape, the survey showed.
"The business expectations
index (BEI) reverted to the expansion zone and stood at 111.4 in
Q3:2020-21 from 99.5 in the previous quarter," it said.
Further, the overall financial situation and availability of finance portrayed optimism.
It
noted that the overall business sentiment in the Indian manufacturing
sector, as reflected by the business assessment index (BAI), surged from
a record low at 55.3 in the first quarter of FY 2020-21 to 96.2 in the
second quarter, though it remained in the contraction zone.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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