By Admin 
Manufacturing PMI Declines: A survey conducted by the private sector has revealed that the manufacturing activity of the country has gone to the lowest level of the last three months and has come to the level of 57.6. The tariff was announced on 2 April by US President Donald Trump. After this, HSBC India Manufacturing Purchasing Manager Index declined for the first time in the month of May.
In this regard, HSBCIndia Chief Economist Pranjul Bhandari says that India’s manufacturing PMI was strengthened in the month of May. But the increase in production and new orders was less than last month.
Manufacturing PMI declines
Talking about May, the PMI figure of that month is less than the initial data of 58.3. Statistics of the service sector will be released on June 4. The Indian economy has performed well during January to March. RBI has set a target of growth in the current financial year by 6.5 percent.
If the score under PMI remains above 50, then it is believed to expand the production, but if it remains below it, then the production is believed to be a decline. Due to India’s high growth rate, RBI has estimated the country’s GDP growth 6.5 percent during the current financial year. During the fourth quarter, the GDP growth of the country also jumped from 6.2 percent to 7.4 percent. This Economic Grow is according to an estimate of FY 2025.
Economy’s speed will remain
Earlier, the RBI said in its estimate that the country’s GDP may remain 6.5 per cent in Quarter-1, 6.7 percent during Quarter-2, 6.6 percent during Quarter-3, and 6.3% during Quarter-4. RBI Governor Sanjay Malhotra had said that this estimate is based on current data and balanced risk. He had said that Indian economy is on the path of growth. But one cannot remain untouched by the issue of global business.
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