August manufacturing activity hits growth after 4 months, PMI rises to 52

New orders pulled up output, but job losses continue for 5th month

Manufacturing activity broke free from a four-month lo­ng contraction in the aftermath of the Covid-19 pandemic and subsequent nationwide and state lock­downs to rise in August. This provides relief a day after the official data showed gross domestic product rate contracted a massive 23.9 per cent in the first quarter of the current fiscal year. 

According to the monthly IHS Markit India Manufacturing Purch­asing Managers’ Index (PMI) survey released on Tuesday, manufacturing PMI stood at 52 in August, up from 46 in July. In PMI parlance, a print above 50 means expansion. A sub-50 print signals contraction. PMI had fallen to