New Delhi: Activity in the country construction area August remained firm on new orders and moderation in input cost inflation, while business confidence improved significantly during the month, a survey showed on Thursday.
S&P Global India Production Purchasing Managers’ Index (PMI) had changed little from July’s reading of 56.4, posting 56.2 in August and indicating the second-strongest improvement in operating conditions since last November.
The continued improvement in demand conditions boosted new order intakes among Indian manufacturers during August, which in turn pushed production growth to the second highest level in nine months. Production volumes were also supported by a pick-up in exports and upbeat projections for a year-ahead outlook.
The survey results showed that the firms were at their most optimistic for six years. The survey is compiled from responses to questionnaires sent to purchasing managers in a panel of nearly 400 manufacturers.
Manufacturers have made more sales, recent efforts to increase capacity, lower . attributed to covid restrictions and product diversification. According to the survey, factory orders grew at the fastest pace since last November, driven by strengthening demand conditions, winning new customers and advertising.
The latest results also indicated that inflation concerns have eased somewhat recently, as business sentiment strengthened from June’s 27-month low. In fact, the degree of optimism was at its highest level in six years. Survey results showed strong sales forecasting, new inquiries and marketing efforts boosted confidence in August.
S&P Global India Production Purchasing Managers’ Index (PMI) had changed little from July’s reading of 56.4, posting 56.2 in August and indicating the second-strongest improvement in operating conditions since last November.
The continued improvement in demand conditions boosted new order intakes among Indian manufacturers during August, which in turn pushed production growth to the second highest level in nine months. Production volumes were also supported by a pick-up in exports and upbeat projections for a year-ahead outlook.
The survey results showed that the firms were at their most optimistic for six years. The survey is compiled from responses to questionnaires sent to purchasing managers in a panel of nearly 400 manufacturers.
Manufacturers have made more sales, recent efforts to increase capacity, lower . attributed to covid restrictions and product diversification. According to the survey, factory orders grew at the fastest pace since last November, driven by strengthening demand conditions, winning new customers and advertising.
The latest results also indicated that inflation concerns have eased somewhat recently, as business sentiment strengthened from June’s 27-month low. In fact, the degree of optimism was at its highest level in six years. Survey results showed strong sales forecasting, new inquiries and marketing efforts boosted confidence in August.