Demand Conditions In Manufacturing Sector Weaken As Reflected In Contraction In Nominal Sales

The Reserve Bank released data on the performance of the private corporate sector during the third quarter of 2019-20 drawn from abridged quarterly financial results of 2,702 listed non-government non-financial (NGNF) companies. Data pertaining to Q3:2018-19 and Q2:2019-20 are also presented in the tables to enable comparison. Demand conditions in the manufacturing sector weakened as reflected in the contraction in nominal sales in Q3:2019-20, led by petroleum, automobiles and iron and steel companies.The mining and power sectors witnessed subdued demand as reflected by a continued decline in their nominal sales. While nominal sales growth (y-on-y) rose in the IT sector, they moderated for the non-IT services sector. Nominal sales contracted sharply for real estate companies, but recorded steady growth for transport and storage services companies.

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