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Manufacturing PMI rises to 53.7 in Sept
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SME Times News Bureau | 01 Oct, 2021
Strengthening demand conditions amid easing of Covid-19
restrictions have boosted the recovery of India's manufacturing industry
in September.
Accordingly, the headline seasonally-adjusted IHS
Markit India Manufacturing Purchasing Managers' Index (PMI) rose to 53.7
(index reading) in September as against a reading of 52.3 in August.
The PMI ranges between 0 and 100, with a reading above 50 indicating an overall increase compared to the previous month.
"With
sales rising at a stronger rate, firms scaled up production and
purchased additional inputs. There was also a faster upturn in
international sales and an improvement in business confidence," said the
PMI report.
According to the report, for the second quarter of fiscal FY22, the PMI averaged 53.8 from 51.5 in the opening quarter.
"Consumer
goods was the brightest spot in September, posting the highest PMI
reading of the three monitored market groups amid substantial
accelerations in growth of new orders and output," it said.
On
the price front, the PMI report indicated an intensified trend in
September due to lingering shortages of raw materials as well as higher
fuel and transportation costs.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
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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