Factory work in India was launched last month, fueled by a sharp increase in demand as the epidemic limits were relaxed, but rising energy prices reduced the cost of installation in five months, a private poll said. The month is high after the contract in March and domestic demand was above average.
The Manufacturing Purchasing Managers’ Index (INPMI = ECI) compiled by S&P Global, increased to 54.7 in April from 54.0 in March. Factories have continued to increase productivity at a faster pace, and the continued increase in sales and sales suggests that growth will stabilize in the near future, “said Pollyanna De Lima, co-director of economics at S&P Global.
That hope was backed by a reduction in COVID-19 restrictions, but the recent rise in coronavirus cases and power outages could disrupt industrial activity in the coming months. Indeed, the level of business expectations remained low compared to previous trends. While some firms predicted better growth over the next 12 months, others showed that the vision was difficult to predict.
The firms hired more workers in April but the increase was slow since March. Import costs have skyrocketed since November, exacerbated by high travel and shipping costs, due to the disruption caused by the Russia-Ukrainian war. Additional costs have been shared by consumers as in previous months and billing prices have risen sharply during the year.
“The biggest insight from recent results was the strong inflationary pressures, as energy price volatility, global commodity and the Ukrainian war have made purchasing costs increase,” added De Lima. continue to share the burden of additional costs with their customers. “The Reserve Bank of India is now expected to raise its principal interest rate in June and opt for a higher rate of inflation to control inflation.
READ ALSO : Saudi Arabia’s economy is estimated at 9.6% in Q1, driven by oil
