Manufacturing areas broke a 13-year record in October.

Manufacturing sectors broke a 13-year record in October - The Technology Mark

The economy slowed due to the Corona crisis has started filling up. One by one the figures are testifying to this. After the increase in the GST (Goods and Services Tax) struggle and the excellent figures for auto sales, now the manufacturing sector has given evidence of improvement in the economy. The sector has broken a 13-year record and has steadily gained momentum for the third month.

Also read :Aadhar: Now it has become easy to change the name or address. Know more?

On Monday, the IHS Market released the Indian Manufacturing Purchasing Index (PMI) data. PMI has been 58.9 in October.
Less than 50 PMI indicates contraction and more than 50 PMI expansion. The manufacturing sector activity in October is the fastest in 13 years due to the huge increase in sales. PMI was 56.8 in September.

Also read : Manufacturing sectors broke a 13-year record in October

Also Read: Reliance Jio will bring 5G smartphones for up to Rs 3000

Due to the nationwide lockdown imposed due to Corona, all economic activity was seen to be stagnant. The manufacturing PMI went below 50 in April after being on a fast track for 32 consecutive months. Economic Associate Director of IHS MARKET, Pauliana De Lama said, 

Also read :Reliance Jio will bring 5G smartphones for up to Rs 3000

"No order and output levels have come up in Indian economy. October figures indicate historical expansion in activities. Companies were confident that demand would come out in the coming months."

Manufacturers showed that the relaxation of restrictions due to Corona, improved market conditions, and increased demand gave them a new job.

Great faith:

People's trust in the economy is also large. People are confident of a 50-month high in the hope of reducing new cases of infection and opening up other sectors of the economy. On the basis of this belief, the situation of the economy may improve further in the coming months. However, the situation on the employment front is not correct. Following the guidelines of the government related to the epidemic, there has been a reduction in employment. Employment declined for the seventh consecutive month.

Lucky Cue

  • ​Manufacturing PMI reaches 58.9, PMI was 56.8 in September.
  • ​New orders and output levels in the economy are growing rapidly.