Manufacturing Activity

Manufacturing expanded at a 4.5% annualized rate in the fourth quarter, the government reported last week

"Amid heightened uncertainty, contacts did not expect economic conditions to improve much in the months ahead," the report said

The world's second-largest economy recorded one of its worst years in nearly half a century in 2022 due to strict Covid lockdowns and subsequent widespread infections

Finance Minister Nirmala Sitharaman on Friday asked Indian industry to work out strategies as to how businesses operating in developed countries can look at India as a production or sourcing hub amid recession fears in the western countries. India has brought in a lot of facilitation and tweaking of rules to attract foreign investment into India and is also engaging with industries who want to co-locate in the country, the minister said. "As much you are preparing yourself for a long-drawn recession in the Western world, in the Developed world, I think it is also the best time for you to work out strategies for drawing those manufacturers from there to India. "Even as they are headquartered there, it might be useful for them to think of sourcing many things from here and producing from here at least for markets in this part of the globe," Sitharaman said at an event here. She said the suspected long-drawn recession, which is likely to affect Europe, is not just going to affect expo

Zetwerk's acquisition of Unimacts will provide the company with immediate access to marquee solar and wind-power customers

61% respondents in survey reported higher production level in September quarter over the year-ago period, as against 55% who reported higher output in June quarter of FY23

While most criticisms of the data related to GDP are on overestimating economic activities on ground, the latest one in fact censures it for underestimating the manufacturing sector in recent times

Manufacturing activity was weak in countries ranging from Germany to Britain to China in a sign sluggish demand was adding to headaches for companies already suffering from lingering supply constraint

Job creation is subdued though companies step up purchasing and report solid manufacturing activity

While the Manufacturing Purchasing Managers' Index remained resilient, it fell to a nine-month low of 53.9 in June from May's 54.6

China's manufacturing activity fell to a six-month low in April as lockdowns continued in Shanghai and other manufacturing hubs in an attempt to stem COVID-19 outbreaks, according to a survey

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Ukraine war-induced commodity price spike could derail mfg rebound in India

The final au Jibun Bank Japan Manufacturing Purchasing Managers' Index (PMI) in December fell to 54.3 on a seasonally adjusted basis, easing from the previous month's 54.5

PMI rose to 57.6 in November from 55.9 in the previous month, the highest figure since January this year

An industry group and the national statistics agency said a monthly purchasing managers' index rose to 50.1 from October's 49.2 on a 100-point scale

The IHS Markit PMI for manufacturing rose to 53.7 in September from 52.3 recorded in August, highlighting a stronger expansion in overall business conditions

Jumps to 3-month high after June contraction; marginal rise in jobs

A contraction in India's services sector deepened as localized curbs to control the virus spread hurt consumer demand and business activity

The Covid-19 pandemic restricted international demand for Indian goods. In response to another robust increase in total new orders, production was raised again in February