New Delhi: With rising demand and output, despite the Covid-19 disruptions, India’s factory activity measured by the Manufacturing Purchasing Managers’ Index (PMI) expanded to a 13-year high of 58.9 in the month of October — the fastest pace in over a decade. However, on the employment front, the numbers remain a concern as firms cut more jobs, a private survey showed on Monday.
Even after the economy shrank by a record 23.9 per cent in the April-June quarter, the survey, however, showed that the Asia’s third-largest economy was signalling a fast recovery, with several positive economic indicators linked to it. Even amidst the Covid-19 pandemic, the green shoots of such indicators showed signs of healing after the government lifted several lockdown restrictions to boost economic activities across the country.
“Rising from 56.8 in September to 58.9 in October, the…