The Purchasing Managers’ Index (PMI) for Indian manufacturing, or PMI, has fallen an unprecedented amount in the month of April. On a seasonally adjusted basis, it has gone down from almost 52 in March to 27.4 in April.
According to IHS Markit, which compiles the index, correspondingly, there has been a drastic reduction in staff numbers in April, also the steepest on record in the survey. Discounts were offered across the board, indicating a decrease in pricing power and deflationary pressure — even amidst similarly unprecedented disruptions to the supply chain of materials ...
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First Published: Mon, May 04 2020. 23:48 IST
