The Reserve Bank released data on performance of the private corporate sector during the second quarter of 2018-19 drawn from abridged financial results of 2,700 listed non-government non-financial (NGNF) companies. Demand conditions in the manufacturing sector maintained its pace in Q2:2018-19 as reflected in strong sales growth (y-o-y). The manufacturing sector sales growth was mainly supported by robust demand conditions in chemical and chemical products; iron and steel; and petroleum products industries coupled with significant improvement recorded by textile industry.
Heavy moderation was seen in the sales growth of motor vehicles and other transport equipments, driven in part by a large adverse base effect, and pharmaceuticals and medicines industries. Manufacturing companies continued to face rising input cost (cost of raw materials; staff cost) pressures. Staff costs accelerated in the IT sector in tandem with the improvement in sales growth.
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