Manufacturing fared better than services in bagging new orders, she said, adding manufacturing flash PMI, which is a composite measure of new orders, output, employment, supplier delivery times, and inventory, improved to 58.4 in April from 58.1 in March.
Companies said output levels have been raised in response to efficiency gains, positive demand trends and successful advertising. Some also reported an improvement in competitiveness as a result of the rupee fall, said the survey.
“New export orders accelerated sharply, likely buoyed by the 90-day pause in the implementation of punitive tariffs that the US had imposed,” said Bhandari, referring to US decision to defer by 90 days his decision to impose tariffs on dozens of countries.
“As a result, output and employment grew, for both, manufacturers and service providers. Cost inflation was in line with March levels, but prices charged rose a tad faster, leading to improved margins,” she said.
