PMI data showing manufacturing sector growth has been released. According to this data, manufacturing sector growth has slowed down in July. According to the monthly survey, manufacturing sector growth has decreased due to slow growth in new orders and output.
According to HSBC's India Manufacturing Purchasing Managers Index (PMI), manufacturing sector growth came down to 58.1 in July from 58.3 in June. However, growth is still in the direction of expansion. Let us tell you that in the language of PMI, below 50 means contraction, while more than 50 means expansion.
Increase in international sales
According to the survey, Indian manufacturers are spending more money on coal, leather, packaging, paper, rubber and steel. The survey said that Indian manufacturers said that there has been an increase in new work. Positive response has been received from clients of Asia, Europe, North America and Middle East countries. Due to this, international sales have increased.
MPC meeting will be held in August
The MPC meeting of the Reserve Bank of India is held after every two months. In this meeting, the Monetary Review Committee of the central bank takes many major decisions along with the repo rate to control inflation. The last NPC meeting was held in June 2024. In this meeting, it was decided to keep the repo rate stable at 6.5 percent. The committee has taken this decision due to no softening in retail inflation.
Now the next meeting will be held in August. The decisions taken in the MPC meeting will be announced on August 8.
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