Business »  Topic »  Manufacturing PMI shrinks for three months straight; job loss still highest on record

Manufacturing PMI shrinks for three months straight; job loss still highest on record


The fall in the manufacturing activity was primarily driven by sharp contractions in output and new orders, with regional lockdown extensions severely hampering demand conditions.

Given the sharp rise in cases related to Covid-19 in India, the manufacturing PMI report has highlighted the possibility of a further nationwide lockdown.

In a straight three-month contraction, the manufacturing PMI was 47.2 in the month of June 2020. The fall in the manufacturing activity was primarily driven by sharp contractions in output and new orders, with regional lockdown extensions severely hampering demand conditions, said the IHS Markit report. The deterioration in operating ...


Read the full text financialexpress