- Manufacturing Sector PMI Report Released by IHS Market
- Purchasing manager index recorded 47.2 in June as compared to May
- new Delhi. The manufacturing sector of the country saw a decrease in production and new orders in June compared to May this year, and companies continued to lay off a large workforce. Even after that the manufacturing sector PMI was much better than in May. According to experts, it can be seen to improve further in the coming months. Let us also tell you how and how fast the manufacturing sector has been seen.
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Wednesday by IHS Market, the Purchasing Manager Index for the manufacturing sector. The index released on a month-on-month basis was recorded at 47.2 in June, implying that manufacturing activity declined compared to May. The index’s fall below 50 indicates a decline over the previous month and growth above 50 while the 50 mark indicates stability.
The decline has been seen for the third consecutive month
in April compared to March and in May compared to April. In that sense, the decline in June was less than in May. The index was recorded at 27.4 in April and 30.8 in May. The report said that after the historical layoffs in May, companies continued to lay off in June even though it was lower than in May, but the pace of retrenchment was still quite high in June. Companies have laid off employees due to slackening demand due to slowing economic activity.
