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Factory growth stays firm, despite manufacturing PMI shrinking to 55.5 in December

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India’s manufacturing sector lost some momentum in December, with IHS Markit’s Purchasing Managers Index (PMI) cooling to 55.5 from a 10-month high of 57.6 a month before.

manufacturing pmi: Latest News & Videos, Photos about manufacturing pmi |  The Economic Times - Page 1

A reading above 50 indicates expansion in activity, while a sub-50 print is a sign of contraction.

According to the findings of an IHS Markit survey, released on January 3, Indian manufacturers continued to see a sharp rise in new work and production.

“The last PMI results of 2021 for the Indian manufacturing sector were encouraging, with the economic recovery continuing as firms were successful in securing new work from domestic and international sources. Higher sales underpinned a further upturn in production and companies carried on with their restocking efforts,” said Pollyanna De Lima, Economics Associate Director at IHS Markit.

While December saw new orders for the manufacturing sector rising at the slowest pace since September, international orders accelerated for the sixth straight month.

The manufacturing PMI may have declined in December, but it averaged 56.3 in the last quarter of 2021 – the most since the January-March quarter 2021.

Supply chain disruptions and risks from inflation, however, continue to impact sentiment.

According to IHS Markit, Indian manufacturers’ input costs rose sharply in December, although the rate of inflation declined to a three-month low. However, it remained above its long-term average.Higher input prices were passed on to consumers in a limited fashion, with the rate of inflation for output charges weakest since October 2020.

Manufacturers continued to report longer lead times on inputs, with vendor performance deteriorating the most since August 2020. “Delays were commonly associated with raw material scarcity among distributors,

Currency update today: Indian rupee against US Dollar on 3 January 2022

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Currency update today: check the Indian Rupee against the foreign currencies  on 29 July, 2021
Currency exchange rate today, 3 January 2022: The Indian rupee against the US Dollar has been settled at Rs 74.17 and while it has ended at Rs. 84.16 against the EURO. The currency exchange rate depends on economic performance, inflation, interest rate differentials, and capital flows, etc.

It is generally determined by the strength or weakness of the particular economy. Hence, currency exchange fluctuates dynamically.

The Indian rupee has been choppy against the US dollar in the recent past. However, it has been decreased in the last six months on the overall. The currency exchange rates of a country is considered a crucial element for central banks to set up a monetary policy. Here are the currency exchange rates in India today, including USD, EUR, GBP, AED to SAR, and more.

S.No World Currency Indian Rupee 

1 1 USD Rs. 74.17 2 1 EUR Rs. 84.16 3 1 GBP ( British pound) Rs. 100.17 4 1 AED (UAE) Rs. 20.15 5 1 SAR (Saudi Riyal) Rs. 19.71

Check out the conversation table of US Dollar to Indian Rupee 

USD INR 1 USD 74.17 INR 5 USD 370.85 INR 10 USD 741.70 INR 50 USD 3708.50 INR 100 USD 7417.00 INR

Check out the conversation table of Indian Rupee US Dollar 

INR USD 1 INR 0.01 USD 5 INR 0.07 USD 10 INR 0.13 USD 50 INR 0.67 USD 100 INR 1.35 USD

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India's December jobless rate rises to 7.9% -think tank CMIE

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India's unemployment rate hit a four-month high in December, data from the Centre for Monitoring Indian Economy (CMIE) showed on Monday.

Unemployment rate rises to 10.3% in Oct-Dec 2020: NSO survey

The unemployment rate rose to 7.9% in December from 7.0% in November, its highest since 8.3% in August.
Economic activity and consumer sentiment have been hit in the South Asian nation after a rise in cases of the Omicron coronavirus variant and social distancing restrictions in many states.

Urban unemployment rate rose to 9.3% in December from 8.2% in the previous month while the rural unemployment rate was up 7.3% from 6.4%, the data showed.

Many economists worry that the Omicron variant could reverse the economic recovery seen in the previous quarter.
Mumbai-based CMIE data on unemployment is closely watched by economists and policymakers as the government doesn't release monthly figures.

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