x

Like our Facebook Page

   
Early Times Newspaper Jammu, Leading Newspaper Jammu
 
Breaking News :   BJP eyes hat-trick as Congress mounts challenge in Udhampur, Jammu | Campaigning ends for Udhampur seat, straight contest on cards | BJP likely to support proxy candidates in Kashmir: Omar | Azad won’t contest from Anantnag-Rajouri seat | Kashmiri Pandits take out Shoba Yatra in Srinagar | Those who opposed Lord Ram faced downfall: Rajnath | 3 Tiffin IEDs recovered | MeT predicts rain, snow over next 2 days | Non-local shot dead in Bijbehara | Police attach property of woman drug peddler | Aspirants demand postponement of examination of assistant director(E&S) to be conducted | Dharmarth Trust celebrates Ram Navmi with religious fervour across J&K | NSF urges to support BJP, highlights Govt Aid Programs | J&K at threshold of mega development under PM Modi's leadership: Slathia | Mehbooba pledges persistent struggle, seeks public support for amplified voice | NC, Cong cutting votes of DPAP not BJP; Azad | LS election: Vote to protect land, jobs, future of youth: Mehbooba Mufti | Fodder camp set up amid water, food shortage for cattle in Chhatrapati Sambhajinagar | Every vote to BJP candidate will strengthen PM Modi for making 'Viksit Bharat': Khatana | Notebooks, stationery items distributed among students | Insha Majeed declared qualified for award of PhD | Drive to clean river Tawi by green warriors of GDC Vijaypur | Bengal on high alert over Ram Navami processions; Ayodhya set for Ram Lalla 'Surya Tilak' | 10 killed in accident along Ahmedabad-Vadodara Highway | 'Virat Kohli Mentality': What former RBI Governor Raghuram Rajan said on Young India | Samba police reunites missing person with family | Bovine smuggler arrested, 48 bovines rescued by Samba police | DGP extends warm greetings on Rama Navmi | DPS Kathua NCC Cadets Shine Bright with NCC A Certificate Qualifications | Back Issues  
 
news details
India's manufacturing sector growth hits 16-year-highin March
4/2/2024 10:00:00 PM
Agencies
NEW DELHI, Apr 2: India's manufacturing sector growth climbed to a 16-year high in March on the back of the strongest increase in output and new orders since October 2020, amid reports of buoyant demand conditions, a monthly survey said today.
The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) surged to a 16-year high of 59.1 in March, from 56.9 in February, reflecting stronger growth of new orders, output and input stocks as well as renewed job creation.
In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction.
India's March manufacturing PMI rose to its highest level since 2008. Manufacturing companies expanded hiring in response to strong production and new orders. On the back of strong demand and a slight tightening in capacity, input cost inflation picked up in March," Ines Lam, Economist at HSBC, said.
Manufacturing output rose for the 33rd month running in March, and to the greatest extent since October 2020. Growth quickened across the consumer, intermediate and investment goods sectors.
Inflows of new work strengthened from both domestic and export markets. New export orders increased at the fastest pace since May 2022, the survey said.
Quantities of purchase increased at the quickest rate since mid-2023, and one that was among the strongest in nearly 13 years, as companies sought to build up stocks in advance of expected improvements in sales.
On the job front, after leaving payroll numbers broadly unchanged in the previous two months, manufacturers in India took on additional workers in March. The pace of job creation was mild, but the best since September 2023, the survey said.
On the price front, despite remaining modest by historical standards, cost pressures were at their highest in five months. Companies reported having paid more for cotton, iron, machinery tools, plastics and steel.
However, customer retention remained a priority for goods producers who raised their charges to the least extent in over a year.
On the outlook for the Indian manufacturing sector, companies remained confident on an average, with 28 per cent forecasting output growth in the year ahead and 1 per cent expecting a contraction.
The overall level of sentiment remained elevated, but slipped to a four-month low as inflation concerns weighed on confidence.
The HSBC India Manufacturing PMI is compiled by S&P Global from responses to questionnaires sent to purchasing managers in a panel of around 400 manufacturers.
  Share This News with Your Friends on Social Network  
  Comment on this Story  
 
 
 
Early Times Android App
STOCK UPDATE
  
BSE Sensex
NSE Nifty
 
CRICKET UPDATE
 
 
 
 
 
 
 
 
   
Home About Us Top Stories Local News National News Sports News Opinion Editorial ET Cetra Advertise with Us ET E-paper
 
 
J&K RELATED WEBSITES
J&K Govt. Official website
Jammu Kashmir Tourism
JKTDC
Mata Vaishnodevi Shrine Board
Shri Amarnath Ji Shrine Board
Shri Shiv Khori Shrine Board
UTILITY
Train Enquiry
IRCTC
Matavaishnodevi
BSNL
Jammu Kashmir Bank
State Bank of India
PUBLIC INTEREST
Passport Department
Income Tax Department
JK CAMPA
JK GAD
IT Education
Web Site Design Services
EDUCATION
Jammu University
Jammu University Results
JKBOSE
Kashmir University
IGNOU Jammu Center
SMVDU