India's August manufacturing output eases on lower demand: PMI
Mumbai, Sep 3 : A slower rise in demand further eased the pace of India's manufacturing sector output in August, as the economy continued to face headwinds, key economic data showed on Monday.
According to the Nikkei India Manufacturing Purchasing Managers' Index (PMI), the composite indicator of manufacturing performance declined to a three-month low of 51.7, from 52.3 in July and 53.1 in June.
An index reading of above 50 indicates an overall increase in economic activity, or growth, and below 50 an overall decrease.
Commenting on the Indian manufacturing PMI survey data, Aashna Dodhia, Economist at IHS Markit and author of the report, said: "Indian manufacturers retained positive projections for output over the next 12 months, but the level of sentiment eased in August.
"Indeed, some of the key headwinds facing the economy include high global oil prices, monetary policy tightening and capital outflows from emerging markets."
Although sub-indices tracking output and total orders touched three-month lows last month, foreign demand rose at the quickest pace since February despite global trade tensions.
"PMI data suggested that external demand for Indian goods was also robust, with new export orders rising at the fastest pace since February," Dodhia said.
"Following rises in domestic interest rates, manufacturing companies gained some breathing space as input cost inflation moderated to the weakest since May and further from June's multi-year peak.
"That said, the rupee depreciation against the US dollar continued to place strong upward pressures on input prices," she added.
The Indian rupee reversed all the gains made earlier on Monday to close at an all-time low of 71.21 per dollar, tracking a weak trend among its global peers amid concerns of a wider trade deficit for the country.
An upswing in manufacturing activity and revival of private investment, supported by strong consumer demand, accelerated India's GDP growth rate in the first quarter (April-June) to 8.2 per cent, official data showed last week.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Muslim man tied upside down and beaten to death in UP's Saharanpur
Saharanpur: A 27-year-old Muslim man, Mohd Salman, succumbed to injuries on January 18 after being violently assaulted by villagers in Nawada, Saharanpur district. The incident, which occurred on January 13, was captured on video, showing Salman tied upside down with his legs bound as villagers repeatedly beat him with sticks.
Salman and his companion, Mohammed Rafid, were accused of attempting to rob the house of Raj Kumar in Nawada village. According to Saharanpur Superintendent of Police (SP) Sagar Jain, the villagers caught the two men as they tried to flee after a robbery attempt and subjected them to a brutal beating.
Salman was handed over to the police and received medical treatment but later died. His body was returned to his family after a postmortem examination.
A case has been registered against Salman and Rafid for the alleged robbery. However, little progress has been reported in taking action against the mob responsible for the assault. Videos of the incident, widely circulated on social media, have sparked outrage and reignited discussions on mob justice and the need for accountability.
Authorities have assured a thorough investigation, with SP Jain stating that strict action will be taken against those found guilty.
A 27-year-old #Muslim man, Mohd Salman, died after being brutally assaulted by villagers in #Nawada village, #Saharanpur, #UttarPradesh, on January 13.
— Hate Detector 🔍 (@HateDetectors) January 20, 2025
Videos of the harrowing incident have surfaced online, showing Salman tied upside down with his legs, as villagers mercilessly… pic.twitter.com/TnRekMxy1m
