Manufacturing activity steady in April despite Covid
The IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) was at 55.5 in April, largely unchanged from March’s reading of 55.4 and indicating a solid improvement in the health of the sector. Consumer goods was the strongest-performing category, followed by capital goods and then intermediate goods. The 50-point mark separates expansion from contraction. The survey is compiled from responses to questionnaires sent to purchasing managers in a panel of around 400 manufacturers and is considered as a key data by policy makers.
Economists cautioned that the sharp surge in Covid cases could hurt the recovery in the manufacturing sector.