Page 20 - Policy_Economic_Report_September2020
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Policy and Economic Report:
Oil & Gas Market
Manufacturing PMI
The IHS Markit Manufacturing PMI for India rose to 52 in August 2020 from 46 in July, against the market
consensus of 48.2. The latest reading indicates the first monthly expansion since March, resulting from
increased customer demand and reopening of client businesses. On the price front, input costs rose for
first time since March and by the most since November 2018, due to higher raw material prices.
India Manufacturing PMI
Source: IHS Markit
Services PMI
The services PMI in India rose to 41.8 in August 2020 from 34.2 in July, recording the highest reading since
March when the COVID induced lockdowns started. However, it was still below the neutral level, signaling
a fifth consecutive decline in private sector business activity. The number of new orders placed dropped
to the lowest in five months while rate of decline in new export orders was among the steepest since
September 2014.
Services PMI
Source: IHS Markit
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September 2020
