India’s manufacturing sector rebounded in July with sales and production growing at the fastest pace since November 2021, as per the S&P Global India Manufacturing Purchasing Managers’ Index which touched 56.4 from a nine-month low of 53.9 in June.
A reading of 50 on the PMI indicates no change in level of activity from the previous month and the Survey-based index suggested ‘marked gains’ in new business orders during July, even though job creation remained marginal amid an uncertain outlook.
Although costs continued to rise, the inflation rate in manufacturing inputs eased to an eleven-month low. Chemicals, electronic components, metals, textiles and transportation fees were reportedly higher during the month, even as the pass-through of higher costs to output prices moderated to the lowest in four months.
