HomeEconomyIndia's April factory activity hits 4-month high on strong demand Economy India's April factory activity hits 4-month high on strong demand By inew May 1, 2023 0 109 views Share FacebookTwitterPinterestWhatsApp SPGI +1.11% Add to/Remove from Watchlist Join the watch list Add location Job has been successfully added to: Please name your portfolio type: purchase Sell date : quantity: price point value: Leverage: 1:1 1: 1: 1: Author: Anant Chandak Bangalore ( (Reuters) – Indian factory activity expanded at its fastest pace in four months in April, boosted by a solid rise in new orders and output, a private survey on Monday showed, pointing to resilient demand and an encouraging outlook. The findings suggest that India will continue to be the fastest growing country despite a slowdown in global growth sapping the momentum of several other countries. major economies. [ECILT/WRAP] Manufacturing PMI by S&P Global (NYSE: SPGI) increased to .2 last month from March11 .4, remaining in – Marks first month separating growth from contraction, confounding expectations for drop to in Reuters poll .8. “Reflecting a strong and rapid expansion of new orders, production growth took another step forward in April. The company also benefited from relatively mild price pressure, better international sales and improved supply chain conditions,” said Pollyanna De Lima, associate director of economics at S&P Global Market Intelligence, in a news release accompanying the survey. “It seems that Indian manufacturers have many opportunities to continue to lead. Apart from seeing Strongest New Work Inflow So far, capacity has been expanded through job creation and input purchases have been eliminated.” Both new orders and output rose at the fastest pace since December, helping companies resume hiring in April after an initial decline for the month of March. External demand also grew at the fastest pace in four months in April and optimism improved. “Manufacturers are certainly upbeat about growth prospects, with optimism improving from an eight-month low in March as contracts pending, Evidence of uptick in customer inquiries, marketing plans and demand elasticity,” De Lima said. The survey shows that although the improvement in demand means that companies can shift some of the burden to customers, but input costs rose at a faster pace in April, suggesting that retail inflation is unlikely to slow significantly anytime soon. Inflation is expected to average 5.3% and 5.0% in the current and next fiscals, still much higher than in India, another Reuters poll showed. The Reserve Bank’s medium-term target of 4.0%. 200 Share FacebookTwitterPinterestWhatsApp Previous articleJohn Oliver teases Matthew McConaughey's five-hour virtual motivational seminarNext articleKodansha Reveals Hundred Notes Detective Project With Anime, Manga, Events inewhttps://inew.news RELATED ARTICLES Economy Swiss economy grows faster than expected in first quarter May 30, 2023 Economy PwC Australia could lose government audit contract, Treasury chief says May 30, 2023 Economy BOJ chief says will be patient with ultra-loose policy May 30, 2023 LEAVE A REPLY Cancel reply Comment: Please enter your comment! Name:* Please enter your name here Email:* You have entered an incorrect email address! Please enter your email address here Website: Save my name, email, and website in this browser for the next time I comment. USA Trends Messi-mad Indian mom driving to Qatar to see hero in his final World Cup December 7, 2022 Drew Brees fakes lightning strike in promotional stunt for online sportsbook December 3, 2022 Who could be speaker, if not Kevin McCarthy December 3, 2022 3 bold Utah football predictions for Pac-12 Championship vs. USC December 3, 2022 Load more LAST NEWS Live-Action “Camera, Hajimete mo Ii Desu ka?” Show Reveals Actress, Crew, July 3rd Debut May 30, 2023 Swiss economy grows faster than expected in first quarter May 30, 2023 Voting reform expands scope of Emmys May 30, 2023 Austrian actor and 'Tony Erdmann' star Peter Simonischeck dies at 76 May 30, 2023 Load more Featured NEWS In London, Corgi parade pays heartfelt tribute to Queen October 13, 2022 Mermaid Hotel Fondazione Sozzani November 5, 2022 Classmates Volpe, Wright reunite on MiLB Podcast October 7, 2022 Explore Sissi's Influence on Modern Austrian Beauty October 26, 2022 Load more
