India's manufacturing sector activity for the month gone by came in at 57.8, which was lower than 58.87 in May, the data released today, July 3 showed.
India's May manufacturing sector activity was at a 31-month high.
The S&P Global Purchasing Managers' Index (PMI), which came in at 57.8 is higher than the 50 key level, which indicates expansion in activity. Anything below 50 indicates contraction.
The expansion in manufacturing activity last month came on the back of a jump in new work order that increased at one of the strongest rates ever since February 2021. International orders increased as well, albeit at a slower pace when compared to May.
Production was increased at one of the fastest rates in the last one-and-a-half years, to meet demand. With capacity pressures continuing to remain mild, manufacturers got additional workers on board, the magnitude was similar to May.
The robust demand also permitted the manufacturers to increase the selling price at the strongest rate in over a year, even though the input prices rose only midly by historic standards, among the lowest-seen over the last three years, S&P Global stated.
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