<p>India’s manufacturing activities growth rose to three months high in August led by strong demands even though cost inflationary pressure accelerated, an industry survey by S&P Global showed.</p><p>Purchasing Managers' Index (PMI) for manufacturing rose to 58.6 in August from 57.7 in July, the second-best monthly improvement in the health of the sector in nearly three years. August number is the highest since May when it had hit a 31-month high of 58.7. In June, it stood at 57.8.</p><p>The PMI print above 50 indicates growth in the sector while below 50 shows contraction. Manufacturing PMI has been above 50 mark for the 26th month in a row.</p>.The influence of finance professionals in the growing startup economy.<p>Demand strength was pivotal to August's robust performance, spurring the fastest upturn in new orders since January 2021. Competitive pricing and advertising were also cited as factors behind sales growth.</p><p>New orders and output increased at the fastest pace in nearly three years. “Robust and accelerated increases in new orders and production suggest that the sector looks set to provide a strong contribution to second quarter (fiscal) economic growth,” said Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence.</p><p>The PMI numbers came a day after the release of gross domestic product (GDP) data by the government. India’s GDP growth jumped to 7.8 per cent in April-June quarter, the fastest pace of expansion in a year, as per data released by the National Statistical Office on Thursday. Manufacturing sector growth stood at 4.7 per cent in Q1 of the current fiscal.</p><p>In its monthly survey report S&P Global noted that a healthy demand environment and favourable market conditions encouraged Indian manufacturers to step up production in August. Output rose for the twenty-sixth successive month, and to the greatest extent in just under three years, it said.</p><p>As per the survey report, cost inflation in August rose to the highest level in a year, led by a sharp jump in the prices of cotton, foodstuff, rubber, steel and machinery spare parts. “The presence of stronger cost inflationary pressures serves as a reminder of the challenges inherent in managing growth,” De Lima said.</p><p>Firms addressed rising input prices by lifting selling charges. However, the need to maintain competitiveness helped restrict charge inflation, she added.</p><p>Despite strong demands and growth in new orders companies remained cautious in hiring. Overall employment in August rose at the slowest pace in four months.</p>
<p>India’s manufacturing activities growth rose to three months high in August led by strong demands even though cost inflationary pressure accelerated, an industry survey by S&P Global showed.</p><p>Purchasing Managers' Index (PMI) for manufacturing rose to 58.6 in August from 57.7 in July, the second-best monthly improvement in the health of the sector in nearly three years. August number is the highest since May when it had hit a 31-month high of 58.7. In June, it stood at 57.8.</p><p>The PMI print above 50 indicates growth in the sector while below 50 shows contraction. Manufacturing PMI has been above 50 mark for the 26th month in a row.</p>.The influence of finance professionals in the growing startup economy.<p>Demand strength was pivotal to August's robust performance, spurring the fastest upturn in new orders since January 2021. Competitive pricing and advertising were also cited as factors behind sales growth.</p><p>New orders and output increased at the fastest pace in nearly three years. “Robust and accelerated increases in new orders and production suggest that the sector looks set to provide a strong contribution to second quarter (fiscal) economic growth,” said Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence.</p><p>The PMI numbers came a day after the release of gross domestic product (GDP) data by the government. India’s GDP growth jumped to 7.8 per cent in April-June quarter, the fastest pace of expansion in a year, as per data released by the National Statistical Office on Thursday. Manufacturing sector growth stood at 4.7 per cent in Q1 of the current fiscal.</p><p>In its monthly survey report S&P Global noted that a healthy demand environment and favourable market conditions encouraged Indian manufacturers to step up production in August. Output rose for the twenty-sixth successive month, and to the greatest extent in just under three years, it said.</p><p>As per the survey report, cost inflation in August rose to the highest level in a year, led by a sharp jump in the prices of cotton, foodstuff, rubber, steel and machinery spare parts. “The presence of stronger cost inflationary pressures serves as a reminder of the challenges inherent in managing growth,” De Lima said.</p><p>Firms addressed rising input prices by lifting selling charges. However, the need to maintain competitiveness helped restrict charge inflation, she added.</p><p>Despite strong demands and growth in new orders companies remained cautious in hiring. Overall employment in August rose at the slowest pace in four months.</p>