Exports Dip 10.3% In May; Trade Deficit At 5-Month High

New Delhi- Exports declined for the fourth-consecutive month by 10.3 per cent year-on-year to USD 34.98 billion in May, while the trade deficit widened...

India’s Services Sector Activity Expands At Fastest Pace In 10.5 Years In Oct: PMI

New Delhi- India's services sector activity expanded at the strongest pace in ten-and-a-half years in October, driven by a substantial upturn in business activity...

KVIB Generated 90,000 Jobs Across J&K In FY 2021-22: LG

JAMMU- Lieutenant Governor, Manoj Sinha Tuesday chaired a meeting to review the performance achieved under various schemes being implemented by the J&K Khadi and...

Net Direct Tax Kitty Grows 16.45 Pc To Rs 15.82 Lakh Crore Till Dec...

New Delhi- Net direct tax collection grew 16.45 per cent year-on-year to over Rs 15.82 lakh crore till December 17 this fiscal, buoyed by...

CS Directs Banks To Saturate Self-Employment In J&K By End Of November

Chairs 8th UT-Level Bankers’ Committee Meeting SRINAGAR- Government  is committed to bring down the unemployment in J&K and the financial sector needs to put in...

Congress Slams India’s GST System As The ‘Worst’ In The World, Calls It ‘Tax...

New Delhi- The opposition Congress on Thursday called India’s GST the world’s “worst” such regime, accusing the government of being interested only in imposing...

Retail Inflation Rises Marginally To 4.48 Pc In October

New Delhi- Retail inflation inched up to 4.48 per cent in October due to an uptick in food prices, government data showed on Friday.The...

MoU Signed To Showcase Sector-Wise Opportunities To Investors In J&K

Jammu- A memorandum of understanding (MoU) was signed between Jammu and Kashmir Trade Promotion Organization (JKTPO) and Ladakh Jammu and Kashmir Economic Growth and Development...

Gradual Rather Than Big Bang Approach For Banks’ Privatisation For Better Outcomes: RBI Article

Mumbai- RBI on Friday said a research paper favouring gradual privatisation of Public Sector Banks (PSBs) is not its view but that of the...
New Delhi, Jan 3 (PTI) India's manufacturing sector growth fell to an 18-month low in December amid softer increase in factory orders and output, despite minimal inflation, a monthly survey said on Wednesday. The HSBC India Manufacturing PMI survey, conducted by S&P Global, showed that there were softer, albeit sharp, increase in factory orders and output, while business confidence towards the year-ahead outlook strengthened. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 56 in November to an 18-month low of 54.9 in December. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction. The HSBC India Manufacturing PMI is compiled by S&P Global from responses to questionnaires sent to purchasing managers in a panel of around 400 manufacturers. "India's manufacturing sector continued to expand in December, although at a softer pace, following an uptick in the previous month. Growth of both output and new orders softened, but on the other hand, the future output index rose since November," said Pranjul Bhandari, Chief India Economist at HSBC. Despite a loss of growth momentum, the sector still expanded strongly in December. New business gains, favourable market conditions, fairs and expositions collectively induced another sharp increase in manufacturing production during December, according to panellists. The December data showed a 21st consecutive increase in international order receipts at goods producers in India. "Companies noted gains from clients in Asia, Europe, the Middle East and North America. New export sales expanded at a moderate pace that was the joint-slowest in eight months," the survey noted. On the prices front, input costs rose at the second-slowest rate in nearly three-and-a-half years and charge inflation softened to a nine-month low. Among the items reported to have been up in price were chemicals, paper and textiles. Little-changed from November, however, the rate of inflation was negligible by historical standards and was the second-weakest in just under three-and-a-half years, as per the survey. "Rates of increase in input and output prices were broadly unchanged," Bhandari added. HSBC India PMI data showed a general lack of pressure on the capacity of manufacturers at the end of the third fiscal quarter. Subsequently, employment was largely stable in December. When assessing the year-ahead outlook for production, Indian manufacturers were at their most upbeat for three months. Anecdotal evidence highlighted advertising, better customer relations and new enquiries as the main factors boosting business confidence in December, the survey said.

India’s Manufacturing Sector Growth Eases In May; Upturn In Exports Strongest In Over 13...

New Delhi- India's manufacturing sector saw a slower growth rate for the second straight month in May but stayed firmly in expansion mode with...