Oil rises after OPEC+ extends output cuts
(Reuters) - Oil prices rose on Monday after OPEC+ members agreed to extend voluntary oil output cuts of 2.2 million barrels per day into the second quarter, largely in line with market expectations. Key Points
ThePrintIndia’s factory employment crossed pre-pandemic level in FY22, investment also picked up pace
India's factory employment grew by 7% in FY22, surpassing the pre-COVID level, as per the Annual Survey of Industries. Investments and output also increased, indicating the country's recovery from the pandemic. The manufacturing sector showed resilience after the adverse effects of the pandemic, with a marginal fall in employment in 2020-21. Key Points
Economic TimesIndia's manufacturing sector growth climbs to four-month high in Jan on sharper upturn in new orders
New Delhi, Feb 1 (PTI) India’s manufacturing sector growth climbed to a four-month high in January as a sharper upturn in new orders boosted output growth amid mild cost inflation, a monthly survey said on Thursday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) recovered from an 18-month low of 54.9 in December […] Key Points
ThePrintManufacturing activity rises to four month high of 56.5 in January
HSBC India Manufacturing Purchasing Managers' Index rose to a four-month high of 56.5 in January, recovering from the previous month's 18-month low of 54.9. The rise in production was driven by robust domestic demand, with current output expanding and domestic orders growing faster than export orders. Key Points
Economic TimesIndia’s manufacturing growth hits 18-month low in December
Demand softened slightly last month and the new orders sub-index fell to 57.3 since June 2022. At the same time, the output rose at the slowest pace in 14 months. Key Points
India Today
Italy industry output dips in October, but slightly less than expected
International Business News: Italian industrial output fell 0.2% in October, slightly better than expected. On a year-on-year basis, output declined 1.1% in October. The three mon Key Points
Times Of IndiaIndia's October infrastructure output up 12.1% on year
India's infrastructure output rose 12.1% year-on-year in October with growth across all sectors, government data showed on Thursday. Key Points
ReutersIndia's August industrial output rises at fastest pace in more than a year
India's industrial output (INIP=ECI) in August grew at the fastest pace in more than a year on the back of strong manufacturing, electricity and mining activity, data from the Ministry of Statistics showed on Thursday. Key Points
ReutersState oil companies see output rebound in fields abroad
The oil and gas output has risen to 8.3 million metric tonnes of oil equivalent (mmtoe) in the April-August period from 8.1 mmtoe in the same period last fiscal year. The annual output had reached a peak of 24.7 mmtoe in 2018-19 following the purchase of stakes in Russia's Vankor field by Indian state-run firms in 2015 and 2016. The output started declining in 2019-20 and had dropped 21% by 2022-23 as fields matured, producer cartel OPEC+ took voluntary production cuts, and geopolitics throttled output in a Russian field last year. Key Points
Economic TimesIndia manufacturing activity eases for 2nd straight month on moderation in output
Growth in India's manufacturing activity eased in July for a second month, with some moderation in output and new orders, although the pace of expansion remained healthy. The Manufacturing Purchasing Managers' Index, compiled by S&P Global, dipped to 57.7 last month from June's 57.8 but was slightly higher than the Reuters poll expectation for 57.0. Key Points
Economic Times
US manufacturing output falls in June; rebounds in second quarter
Manufacturing production unexpectedly fell by 0.3% in June, according to the Federal Reserve. However, output during the second quarter was boosted by motor vehicle production, which accelerated after two consecutive quarterly declines, and increased at an annualised rate of 1.5%. The Institute for Supply Management index has been registering below 50 - indicating a contraction in manufacturing - for seven months running. Key Points
Economic TimesMining, mfg drive May factory output to 3-month high
India's factory output growth increased to 5.2% in May, the highest in three months, driven by a strong uptick in mining and manufacturing, according to official data. The Index of Industrial Production (IIP) growth beat expectations, with the manufacturing sector's output growing by 5.7% during the month. However, analysts expect the IIP to grow at a modest pace in the near term due to sluggish external demand and the potential impact of rising food inflation on consumption. Key Points
mintUK economy grows by 0.1% in first quarter of 2023
Output was 0.2% higher than a year earlier, the Office for National Statistics said. But GDP in March alone dropped 0.3%, compared with poll forecasts for it to hold steady. While industrial output and construction grew, the much larger services sector dropped 0.4%, reflecting weak car sales and retail, hurt by unusually rainy weather and high inflation. Key Points
Economic TimesRetail inflation slides to 4.7% in April; IIP grows just 1.1% in March
India’s retail inflation slid to 4.7% in April, staying below the Reserve Bank of India’s 6% tolerance threshold for price rise for the second successive month and Industrial output grew just 1.1% in March 2023, moderating sharply from 5.8% in February Key Points
The HinduCore sector output slows to 5-month low in March
In March this year, the output of crude oil contracted by 2.8%, power by 1.8% and cement by 0.8%. On the other hand, coal output recorded an increase of 12.2%, fertilizers 9.7%, steel 8.8%, natural gas 2.8% and refinery products 1.5%, the data showed Key Points
mint
Core sector output dips to 5-month low of 3.6% in March
For the full financial year 2022-23, core sectors recorded a 7.6% growth compared to 10.4% in 2021-22 Key Points
The HinduIndia's March manufacturing activity hits 3-month high even as job cuts resume
India's manufacturing sector expanded at its quickest pace in three months in March on improved output and new orders, although firms shed jobs for the first time in over a year, a private business survey showed. The Manufacturing Purchasing Managers' Index compiled by S&P Global increased to 56.4 in March from February's 55.3 Key Points
Economic TimesOn track: Core growth at 3-month high of 6.7% in Feb
India's core sectors saw a 6.7% growth in February, with various industries showing positive trends. Steel output increased, while fertiliser production contracted. Economists predict a 4-6.5% expansion in the Index of Industrial Production for February. Key Points
Economic TimesManufacturing PMI falls to an eight-month low
The purchasing managers index (PMI) fell to 55.5 in October from 57.5 in September, according to S&P Global Market Intelligence. Key Points
mintIndia's services sector output increases at second-fastest pace in close to 13 years in May: PMI
The S&P Global India Services PMI (Purchasing Managers' Index) Business Activity Index decreased from 62 in April to 61.2 in May after being seasonally adjusted. The most recent measurement showed that output rose at the second-fastest rate since July 2010, albeit declining from April Key Points
Firstpost
Industrial output growth slips to 5.8% in Sept
India’s industrial production growth decelerated to 5.8% in September from 10.3% in August, though on an annual basis, the output of manufacturing and mining sectors showed an improvement, according to the official data released on Friday. The factory output growth measured in terms of the Ind Key Points
The Tribune IndiaOil falls for second day as US crude inventories surge
By Paul Carsten LONDON (Reuters) -Oil prices fell for a second day on Wednesday on surging U.S. stockpiles and signs the OPEC+ producer group is unlikely to change its output policy at a technical Key Points
ThePrintPrivate sector activity rises to eight month high of 61.3 in March
Indias private sector output rose to its highest level in eight months to 61.3 in March compared with 60.6 in the previous month, according to results of a private survey released Thursday. Key Points
Economic TimesIndia’s industrial output in 2021-22 rebounded from Covid lockdown to surpass pre-pandemic levels
New govt data on industrial production reveals output in 2021-22 surpassed levels of 2018-19 & 2019-20. Data shows employment and wages also rebounded strongly in these sectors. Key Points
ThePrintIndia's manufacturing activity eases marginally in September
The Manufacturing Purchasing Managers' Index INPMI=ECI, compiled by S&P Global, fell to 57.5 last month from 58.6 in August. Key Points
India TodayIndustrial output Rebounds in April, but Recovery Remains Uneven
Industrial output in April showed a growth of 4.2%, bouncing back from a five-month low in March. However, electricity generation contracted for the second consecutive month, while manufacturing and mining experienced around 5% growth. The overall industrial growth in April still remained the second slowest in six months. The National Statistical Office revised the Index of Industrial Production for March, indicating a growth of 2.3%. Despite the rebound, experts highlight the uneven nature of the recovery, with some segments still below pre-COVID levels. Key Points
The HinduIndia's manufacturing PMI hits 31-month high, as factory orders surge on robust demand conditions
Manufacturing sector in India continues to grow from strength to strength as data showed that factory output expanded at the quickest pace in the last 31 months on strong demand and output. The Manufacturing Purchasing Managers' Index, compiled by S&P Global, rose to over a 2-1/2 year high of 58.7 in May from April's 57.2. Key Points
Economic TimesCore sector output up 7.8% in January
Production of coal rose by 13.4%, natural gas by 5.3%, refinery products by 4.5%, fertilisers by 17.9%, cement by 4.6%, steel by 6.2% and electricity by 12% in last month. Key Points
mintIndia's manufacturing PMI falls to 18-month low in December
According to the HSBC India Manufacturing Purchasing Managers' Index (PMI), which is compiled by S&P Global, India's manufacturing PMI fell to 54.9 in December from 56 in November and 55.5 in October. Key Points
mintCrude oil prices: Demand-supply dynamics not favourable for immediate recovery
Despite the ongoing output cut by Saudi Arabia and other members of OPEC plus countries, oil output from the cartel has risen for the third straight month in October. This was due to increased production from Nigeria and Angola. Small members in the group have also contributed by managing to overcome factors affecting output and supply. As per the Reuters report, the group pumped 27.90 million bpd in September, with an increase of 180,000 barrels per day. Key Points
Economic Times/cloudfront-us-east-2.images.arcpublishing.com/reuters/BO2HCNZCBJK7DON3CXQVQV7DM4.jpg)
India's industrial output rose 3.7% in June
India's industrial output (INIP=ECI) rose 3.7% year-on-year in June, data from the Ministry of Statistics showed on Friday. Key Points
ReutersIndia's PMI manufacturing index softens to 57.8 in June from 58.7 in May
New orders and output rose sharply despite the sub-indexes easing moderately from May, driven by both domestic and international demand. The S&P Global Manufacturing Purchasing Managers' Index fell to 57.8 in June from May's 58.7. That marked two years of the index being above the 50-mark separating expansion from contraction. Key Points
Economic TimesMar factory output growth slips to 5-month low of 1.1%
Power generation fell by 1.6% in March from a 6.1% growth in the year earlier, largely due to radical changes in temperatures in March compared to historical averages. Key Points
mintServices PMI eases a tad in March
At the composite level, private sector output in India increased for the twentieth successive month in March, even though the S&P Global India Composite PMI output Index fell from 59 in February to 58.4 in March. Key Points
FinancialexpressIndustrial production growth jumps to 16-month high of 11.7% in October
The capital goods segment increased by 22.6% in October of this year according to use-based classification, as opposed to a 2.4 per cent contraction in the year-ago month Key Points
Firstpost
Business activity rises to 8-month high in March
The HSBC Flash India Composite PMI output Index rose to 61.3 in March from 60.6 in February. The increase was led by manufacturing output, which expanded at its fastest pace of 63.5 in nearly three and a half years from 60.7 in February. Manufacturing PMI, which represents private activity in the sector, rose to 59.2 compared with 56.9 in the previous month. Key Points
Economic TimesOil prices settle down slightly on more supply in US and abroad
By Laila Kearney NEW YORK (Reuters) - Oil prices settled slipped on Tuesday as traders focused on rebounding crude output in parts of the U.S., along with rising supply in Libya and Norway, rather Key Points
ThePrintIndustry activity remains strong on new export orders
Manufacturing activity continued its strong momentum in July even as a marginally softer rate of expansion in output and new orders brought down the PMI reading for the month to 57.7 from 57.8 in June. Key Points
Economic TimesElectricity output sees marginal growth of 1.3 pc in Apr-Jun due to unseasonal rains: Govt data
The country's electricity output witnessed a marginal growth of 1.3 per cent in April-June quarter of 2023, compared to 17.1 per cent in the same period a year-ago, mainly due to unseasonal rains, government data shows. According to the latest Index of Industrial Production (IIP) data, a measure for factory output, electricity output contracted by 1.6 per cent in March and 1.1 per cent in April this year. Key Points
Economic TimesOil steadies on US crude inventories data
By Paul Carsten LONDON (Reuters) -Oil prices were broadly level on Wednesday, after official numbers were released for U.S. crude stockpile and signs the OPEC+ producer group is unlikely to change its Key Points
ThePrint
India's manufacturing sector growth falls to 18-month low in December on softer rise in orders, output
The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 56 in November to an 18-month low of 54.9 in December. India's manufac Key Points
The Tribune IndiaManufacturing activity eases to an 18-month low in December; optimism rises to a three-month high
The HSBC India purchasing managers index of manufacturing eased further to 54.9 in December compared with 56 in the previous month. However, the easing had no impact on optimism, as the year-ahead outlook rose to a three-month high. Key Points
Economic TimesKey infrastructure sectors’ growth up at 7.8% in Nov
The output of eight key infrastructure sectors increased by 7.8% in November 2023 against a 5.7% expansion in the year-ago period, according to the official dat Key Points
The Tribune IndiaIndustrial growth was slightly slower in June, but expanded at 2nd-fastest rate this yr
June's S&P Global Manufacturing Purchasing Managers' Index was 57.8, down from May's 58.7 and below Reuters' 58.0 estimate. The index has been above 50 for the last two years Key Points
ThePrintIndia's May factory activity grows at fastest pace since October 2020
India Business News: India's Manufacturing Purchasing Managers' Index rose to 58.7 in May, its highest level since October 2020, driven by strong demand and output. Firms Key Points
Times Of India
Core sectors’ growth slips to six-month low of 3.5% in April
Marking the slowest pace in six months with half of the sectors, India’s eight core sectors’ output growth slid from 3.6% in March to 3.5% in April Key Points
The HinduRussia's crude oil flows stay high even as Moscow insists cuts made
Flows are now up by 15% since the first week of April and hit a new high for the period since Bloomberg began tracking them in detail at the start of 2022. With almost all Russia's crude going to China and India, volumes to Asia also climbed to a new peak. More volatile weekly flows edged lower. Key Points
Economic TimesIndustrial production growth declines to 1.1% in March
The index of industrial production grew 1.1% in the month of March, according to official data released on Friday. It had risen 5.6% in February. Factory output measured in terms of the Index of Industrial Production (IIP) grew 2.2 per cent in March 2022. Key Points
Economic TimesIndia's power output grows at fastest pace in 33 years, fuelled by coal
India Business News: India's power generation increased sharply by 11.5% to 1,591.11 billion kWh in the fiscal year 2022-23. The sharp rise in demand was caused by unrelen Key Points
Times Of IndiaJan industrial output up 5.2% on manufacturing boost, IIP growth second highest since july 2022
India's industrial production rose 5.2 per cent in January this fiscal, according to official data released on Friday. Factory output measured in terms of the Index of Industrial Production (IIP) grew 2 per cent in January 2022. Key Points
Economic Times
Valentine's Day gifting ideas: Home theatre systems will make celebration worthy
Valentine's Day gifting ideas: Home theatres are an excellent way to bring the grand watching experience to your home. Check out the top gifting options in our curated list. Key Points
mintOil retreats over 2% over global growth fears after Saudi output cut led one-day rally; what lies ahead
Brent crude had gained as much as $2.60 per barrel on Monday and WTI as much as $3.30 after Saudi Arabia, the world's top exporter, announced on June 4 that its output would drop by 1 million barrels per day (bpd) to 9 million bpd in July. Key Points
mintGerman factory output drops again in October
International Business News: German industrial production fell for the fifth consecutive month, declining by 0.4 percent in October. The drop was largely driven by a 6.3 percent d Key Points
Times Of IndiaManufacturing activity slows to 57.5 in September; sentiment improves
India's manufacturing activity slowed down in September, with the Purchasing Managers' Index falling to its lowest level in five months. The decline was primarily due to a softer increase in new orders, although export orders remained strong. Despite this, firms in the sector remain optimistic and expect output levels to increase in the next twelve months. Key Points
Economic TimesIndia's services PMI surges at fastest rate since June 2010
The demand strength in India's services sector promoted the fastest increases in new business and output in close to 13 years, a private survey showed on Wednesday. Along with robust domestic demand, international demand was strong as the sub-index rose to a four-month peak and business optimism hit its highest since December. The input prices index was at a three-month high from a 2-1/2-year low in March and firms raised their charges at the fastest pace this year. The prices charged index rose to 53.5 from 52.4. Key Points
Economic Times
MPC Minutes: War against inflation not yet won, premature to declare end to tightening cycle, says Jayanth
Two inflationary risks have come to the fore since the February meeting. The first risk emanates from the announcement of an output cut by OPEC+ during the weekend just before the MPC meeting. The second risk relates to the monsoon, said Jayanth Varma. Key Points
Economic Times