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Manufacturing Activity Growth in May at Its Lowest Since July 2020 as Demand Fell: PMI
India factory activity growth slowed significantly in May as a surge in coronavirus cases hit new orders and output while scarcity of raw materials drove up input costs.
File Photo: Labourers load steel rods onto a truck at a steel factory on the outskirts of Jammu July 12, 2012. Credit: Reuters/Mukesh Gupta/File Photo
Government8 hours ago
India‘s factory activity growth slowed significantly in May as an escalation in coronavirus cases hit new orders and output while scarcity of raw materials drove up input costs, a private sector survey showed on Tuesday.
3,438,678.0
Service providers and manufacturers on both sides of the Atlantic are exhibiting robust rates of growth as the US and European economies escape the clutches of the pandemic.
While the labor market in the UK stirs to life, elevated coronavirus infections are damaging India’s. Japanese exporters, meanwhile, are benefiting from robust demand in other parts of the globe where recoveries are gaining strength.
Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy:
US
A measure of output at manufacturers and service providers advanced to a fresh record in May, underscoring solid demand that’s contributing to added inflationary pressures.
Larsen & Toubros optimism flows from its expectations that notwithstanding the second wave, the countrys thrust on infrastructure in the Budget would see the company take in several large orders over the coming years.
India s services growth slowed further in April, input costs soared
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Last Updated: May 05, 2021, 10:53 AM IST
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Synopsis
The Nikkei/IHS Markit Services Purchasing Managers Index fell to 54.0 last month from 54.6 in March, its lowest since January but still well above the 50-mark separating growth from contraction and outpacing expectations in a Reuters poll for a fall to 51.1.
ThinkStock Photos The gap between rates of inflation for input prices and charges was one of the widest since the global financial crisis.
Growth in India s dominant services sector eased to a three-month low in April but remained unexpectedly resilient even as the COVID-19 crisis intensified and cost pressures rose at the fastest pace in over nine years, a private survey showed.