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July Manufacturing PMI provides comfort to RBI

Indian firms foresee output growth in the year ahead, with the end of the pandemic and rising sales expected to support the upturn.

August 02, 2021 / 12:18 PM IST
July Manufacturing PMI provides comfort to RBI

The Reserve Bank of India’s Monetary Policy Committee (MPC) will heave a sigh of relief from the Manufacturing Purchasing Managers’ Index numbers for July. The PMI survey showed that the rate of input cost inflation was at a seven-month low, while firms preferred to absorb costs and output charges grew at the slowest rate this year. The absorption of higher input costs could, however, squeeze firm margins. Pollyanna de Lima, Economics Associate Director at IHS Markit, said, ‘Policymakers will welcome...

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