The Reserve Bank Of India has released the results of the 45th round of the Order Books, Inventories and Capacity Utilisation Survey (OBICUS) for the quarter January-March 2019 covering 843 manufacturing companies. The survey provides a snapshot of demand conditions in India's manufacturing sector. At the aggregate level, Capacity Utilisation or CU rose by 0.2 percentage points to 76.1% in Q4:2018-19, co-moving with de-trended manufacturing output in the index of industrial production (IIP). Seasonally adjusted CU, however, declined by 1.1 percentage points to 74.5% in Q4:2018-19. Although fewer new orders were received in Q4:2018-19 relative to the preceding quarter, order books increased on a year on year basis and moved into expansion zone on the back of favourable base effects
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