India’s manufacturing activity improved at a softer pace in November, survey results from IHS Markit showed on Tuesday.
The headline IHS Markit manufacturing Purchasing Managers’ Index, or PMI, fell to 56.3 in November from 58.9 in October. The reading was the lowest in three months.
Economists had expected a fall to 57.3. Any reading above 50 indicates expansion in the sector.
New order growth was the slowest in three months in November. Demand from abroad increased. Production increased amid an easing in the Covid-19 restrictions and an improvement in market conditions.
The rate of expansion in output was the slowest in three months in November. Employment declined and the rate of job shedding was solid.
Outstanding business increased in November, while input holdings contracted with a decline in inventories of finished goods.
Input costs increased in November and the rate of inflation was the joint-strongest in two years. The rate of charge inflation rose to the highest in nine-months.
“Although the softening of rates of expansion seen in the latest month does not represent a major setback, since these are down from over decade highs in October, a spike in COVID-19 cases and the possibility of associated restrictions could undermine the recovery,” Pollyanna De Lima, economics associate director at IHS Markit, said.
“Companies noted that the pandemic was the key factor weighing on growth during November, with COVID related uncertainty also restricting business confidence,” Lima said.
The material has been provided by InstaForex Company – www.instaforex.com
🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.
As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.