New Delhi– Rupee appreciation, along with GST implementation issues and subdued demand has dampened the manufacturing sector’s outlook for the third quarter of 2017-18.
Industry body Ficci’s quarterly survey on manufacturing released on Tuesday, suggested a “slightly less optimistic outlook” for the manufacturing sector in Q3 “as the percentage of respondents reporting higher production in third quarter has fallen vis-à-vis previous quarter”.
“This less optimistic outlook for manufacturing in third quarter of current fiscal is reported to be due to factors like rupee appreciation impacting exports, issues with regard to GST implementation and subdued demand in several sectors,” Ficci said in the survey report.
Ficci’s survey assessed the expectations of manufacturers for Q3 for twelve major sectors.(IANS)