‘Manufacturing PMI at 11-month low in June’

India’s manufacturing sector contracted to an 11-month low in June because the intensification of the Covid pandemic and strict containment measures put the sector into the “reverse gear”.
At 48.1 in June, the seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) was beneath the important no-change mark of fifty.0 for the primary time since July 2020. The PMI was 50.8 in May.
The PMI averaged 51.5 within the opening quarter of fiscal yr 2021-22, the bottom three-month determine for the reason that similar interval one yr in the past, IHS Market stated.
The stretch of recent order progress that began in August 2020 got here to an finish in June, with companies linking the deterioration in demand to the pandemic.