India Manufacturing PMI Edges Up, Input Costs Escalate

India's manufacturing sector activity expanded in April despite fresh domestic factory orders and output easing to eight-month lows due to an intensification of the coronavirus pandemic. Data released by analytics firm IHS Markit showed purchasing managers' index (PMI) for April edged up to 55.5 after declining to a seven month low in March at 55.4. A figure above 50 indicates expansion, while sub-50 signals contraction. The surge in covid-19 cases could dampen demand further when firms' financials are already susceptible to the hurdle of rising global prices. April saw the steepest increase in input costs for nearly seven years drive the sharpest upturn in output charges since October 2013.

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