The Manufacturing Purchasing Managers’ Index (PMI), compiled by IHS Markit and Nikkei, fell to 52.1 in June from 52.7 in May. Commenting on the India PMI survey results, Pollyanna de Lima, principal economist at IHS Markit, said, “Firms tried to boost sales by offering price discounts for their goods, in light of subdued rises in cost burdens. As the chart alongside shows, the input price sub-index for manufacturers across these regions has eased in June. As indicated by the output price index, firms have passed on this benefit to consumers in the form of price cuts. In fact, for India, the output price index fell to a 45-month low of 49.2 in June, remaining in contraction territory for a second straight month.

Source: Mint July 01, 2019 12:00 UTC