Sentiment in the manufacturing sector was impacted by consumption slowdown: Survey
Updated: Sep 03, 2019 11:36:29am
Sentiment in the manufacturing sector was impacted by consumption slowdown: Survey
New Delhi, Sep 3 (KNN) The sentiments of micro and small enterprises (MSEs) saw moderation during the quarter ended June 30, 2019, according to CriSidEx Survey.
At 120, the CriSidEx score for April-June, 2019 (Survey 7) was below the 122 logged in January-March, 2019 (Survey 6) and 127 in April-June 2018 (Survey 3).
Meanwhile, between manufacturing and services, the index was positive for services on one common parameter: employee base. Both sectors reported a drop on other index parameters compared with the previous year.
Mohammad Mustafa, Chairman and Managing Director, SIDBI, said, “MSMEs can’t decouple from the broader economic trends. Yet, on a year-on-year basis, an increase in positive sentiment has been reported in a few select segments such as commercial services & supplies, healthcare providers & services, and human resources, while those into gems & jewellery, chemicals, and auto components had a relatively subdued outing.”
In the services sector, the moderation in sentiment was not as sharp as in manufacturing, and was mainly on account of cautious outlook on global economic growth, which is expected to impact IT spends and lower growth.