India's manufacturing sector activities moderate in August constrained by COVID-19, surging costs: PMI
The August PMI data pointed to an improvement in overall operating conditions for the second straight month.
The measure for factory activity, manufacturing PMI, came in at 50.1 in August from July's 50.4. Anything above 50 indicates expansion, while below that figure points to contraction.
This is in contrast with the manufacturing sector growth, which witnessed a rebound in July.
The seasonally adjusted India Services Business Activity Index rose from 41.2 in June to 45.4 in July, but was stuck in the red due to subdued demand conditions amid the COVID-19 crisis.
In Purchasing Managers' Index parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
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The seasonally adjusted India Services Business Activity Index fell to 46.4 in May, down from 54.0 in April, as the intensification of the COVID-19 crisis caused renewed declines.
The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in February to a seven-month low of 55.4 in March.