Manufacturing activity softens in April after reaching 16-year high in March

Mumbai: The country’s manufacturing activity in April was marginally lower than March, but the purchasing managers’ index (PMI) of the manufacturing sector was the second highest in the last four and a half years, indicating the strength of the country’s manufacturing. Area.

India’s April manufacturing PMI released by HSBC stood at 58.80, slightly lower than 59.10 seen in March. March PMI was at the highest level in 16 years.

An index above 50 is called expansion of that area.

Companies saw an increase in new orders and increased production accordingly.

Buying volumes remained high and input stocks also remained high with sales expected to be positive. The manufacturers of the country have received strong orders from within the country as well as from abroad. The volume of new orders was the second largest after 2021.

The report said production has increased as a result of healthy demand.

The report also said employment growth in manufacturing remained modest but the highest since September 2023.