new Delhi. Good statistics and signs are constantly being seen for the government and the economy of the country. Recently, GST tax figures came in which a collection of Rs 1.15 crore was seen. Now the manufacturing sector PMI has come up. Which has seen a boom in the 5th consecutive month. This is the second consecutive month that PMI is above 56 digits. According to experts, with the improvement in the country’s economy, the foreign demand is slowly seeing the right pace. Due to which better figures are being seen.
Fast for the fifth consecutive month
The IHS market on Monday analyzed the manufacturing sector’s PMI data. This has been seen at 56.4 for December 2020, slightly above 56.3 for November 2020. This is the fifth consecutive month when the manufacturing sector’s PMI is above 50. If the PMI is more than 50, it indicates a spurt in activity. A PMI of less than 50 indicates contraction.
Increase in production and demand
Paulina de Lima, assistant director of economics at IHS Market, said the recent PMI in the Indian manufacturing sector shows that the economy is improving. The demand-driven environment and the companies’ efforts to re-create safe reserves have further accelerated production. He said that business conditions have been improving in the entire manufacturing sector. He said that out of the three sub-sectors that have been considered, detail has been registered on both sales and production parameters. It is important to emphasize the macro nature of the revival. According to the report, international demand for Indian goods increased in December.