InvestorQ : What does the sharp fall in PMI Manufacturing in June indicate?
Dilmini Mercia made post

What does the sharp fall in PMI Manufacturing in June indicate?

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Dawn Cherian answered.
5 months ago
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PMI Manufacturing, which represents India’s factory activity on a sequential basis, contracted for the first time in 11 months in June 2021. The second wave of the virus appears to have depressed demand as well as hit output, order books and job creation by manufacturing companies.

Markit PMI Manufacturing at 48.1 against 50.8 in May-21 shows absolute output contraction and also serious loss of momentum over May. This was largely on the back of a new delta variant called COVID 3.0.

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