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July 2020
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News Headlines
Missing Mayor found dead in north Seoul        Heavy rain hits scenic central Japan, more damage in south        Bikru bloodbath mastermind Vikas Dubey nabbed in MP town        NIA to probe gold smuggling case, ex-Consulate woman employee moves HC for anticipatory bail        Kerala reports biggest daily spike of 339 infections,COVID-19 tally crosses 6,500 mark        Holder wins early battle with Stokes as Windies take control        Ganguly announces cancellation of Asia Cup in September        We have asked every state to adopt one sport: Rijiju        Rupee slips 9 paise to 75.02 against USD        ICICI Bank to raise up to Rs 15,000 crore to bolster capital base        Trump threatens to cut federal aid if schools don't reopen        Pak PM urges world community to share info on COVID-19 strategies as tally rises to 239,225        Enhancing global cooperation need of the hour to effectively tackle COVID-19: Prez        Kanpur encounter: 2 policemen held for 'tipping off' gangster Vikas Dubey about police action        CBSE should explain rationale behind dropping certain chapters from curriculum: Sisodia        301 test positive in Kerala,COVID-19 tally crosses 6,000 mark        Dhoni turns 39, wishes pour in from all corners        New era for cricket as England-West Indies series begins        India''s COVID-19 tally, fatality rate per million population lowest in world: Govt        Rahul asks why no mention of Galwan Valley in MEA statement on talks        
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Business News
Indian manufacturing output falls further in May, rate of job cuts accelerates: PMI
 
New Delhi, Jun 1 (PTI) The country's manufacturing sector activity recorded another sharp deterioration in business conditions during May as new orders placed with producers continued to fall after April's record contraction, leading firms to cut jobs at the quickest pace on record, a monthly survey said on Monday.

The headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) stood at 30.8 in May, up from 27.4 in April, pointing to another substantial decline in the health of the country's manufacturing sector, albeit one that was slightly softer than recorded in April.

In April, the index had slipped into contraction mode, after remaining in the growth territory for 32 consecutive months. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.

"The latest PMI data suggested that Indian manufacturing output fell further in May. This result is particularly poignant given the record contraction in April which was driven by widespread business closures," said Eliot Kerr Economist at IHS Markit.

As per the survey, weaker demand drove output lower following April's record decline. Consequently, firms cut staff numbers at the quickest pace since data collection began over 15 years ago.

"The further reduction in May highlights the challenges that businesses might face in the recovery from this crisis, with demand remaining subdued while the longevity of the pandemic remains uncertain," Kerr noted.

The death toll due to COVID-19 rose to 5,394 and the number of cases climbed to over 1.90 lakh, according to the Health Ministry.

Weak demand from international markets added to the deteriorating sales trend, with new business from abroad declining further in May.

"Anecdotal evidence suggested that global measures to stem the spread of COVID-19 continued to stifle exports," the survey noted.

Going ahead, Indian manufacturers remained optimistic towards the one-year business outlook in May.

Confidence was supported by expectations for a return to growth once all coronavirus-related restrictions are lifted, the survey said adding that "the degree of positivity eased slightly from April and remained historically subdued".

Meanwhile, India's GDP growth tumbled to 3.1 per cent in the March quarter -- the slowest pace since the global financial crisis more than a decade back. In 2019-20, the Indian economy grew by 4.2 per cent, the slowest in 11 years.


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KERALA NEWS
Kerala reports biggest daily spike of 339 infections,COVID-19 tally crosses 6,500 mark
 Thiruvananthapuram: With COVID19 cases continuing to spiral, Kerala on Thursday recorded the biggest  
Kerala reports 272 fresh cases; 68 infected through contact
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INTERNATIONAL NEWS
Missing Mayor found dead in north Seoul
 Seoul: The Mayor of this South Korean capital was found dead at Bugaksan mountain here on Thursday,
Heavy rain hits scenic central Japan, more damage in south
Trump threatens to cut federal aid if schools don't reopen
Pak PM urges world community to share info on COVID-19 strategies as tally rises to 239,225
NATIONAL NEWS
Bikru bloodbath mastermind Vikas Dubey nabbed in MP town
 Ujjain: History-sheeter Vikas Dubey ? the prime accused for whom Uttar Pradesh Police had launched a
Enhancing global cooperation need of the hour to effectively tackle COVID-19: Prez
Kanpur encounter: 2 policemen held for 'tipping off' gangster Vikas Dubey about police action
CBSE should explain rationale behind dropping certain chapters from curriculum: Sisodia
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