The historical economic decline recorded in the month of April due to the lockdown

A huge reduction in the demand and the supply during the lockdown; PMI records fall at 27.4

MAY 04 (WTN) - As you know, the whole world has come to a standstill due to the Coronavirus infection epidemic. There is a lockdown in many countries, including India, due to the Coronavirus infection to have originated and spread from Wuhan city in China, and it is natural that the lockdown has brought economic activity to a standstill. As far as India is concerned, for your information, let us know that due to the ongoing lockdown to prevent the spread of the Coronavirus infection, India is suffering considerable financial loss.

At the ground level, you must have experienced the financial loss due to the lockdown. Now, based on the data, let's tell you how much loss the country is suffering due to the lockdown. For your information, let's know that in April this year, the PMI, i.e., Manufacturing Purchasing Managers' index has come down to 27.4, which was at 51.8 in March. Explain that this is the lowest level since March 2005.

In fact, the PMI figure above 50 indicates the economic growth, while the PMI below 50 indicates the economic decline. For your information, let's know that the manufacturing PMI started in the year 2005 after that for the first time in 15 years PMI has recorded such a big decline. Naturally, India has historically been facing the economic downturn due to the lockdown.

As you are aware, the lockdown has started since March 25 is still in the country to prevent the spread of the Coronavirus infection, due to which the entire month of April has gone into lockdown. It is natural that economic activities are coming to a standstill in the whole month of April, in which the government has suffered a lot of financial loss. Demand for goods and services has been the lowest in the entire month of April due to the lockdown so far. Due to factories, miles, and business activities coming to a standstill, the jobs of crores of people are facing danger, and these people are on the verge of unemployment.

Explain that both the input cost and the output price have decreased during the lockdown as suppliers and manufacturers are offering discounts for taking orders. However, the manufacturing sector in India was relatively better in March. But in the month of April, it had a bad effect of lockdown. The month of April recorded a significant decline in production, new orders, and employment due to the lockdown. And for this reason, a historic decline in the demand for goods and service has been recorded.

Actually, the whole world is facing trouble due to the mistake, negligence, and irresponsible attitude of the leftist government of China. So far, 2,48,655 people have died across the world due to the Coronavirus infection disease to have originated and spread from Wuhan city of China. Economic activities of the entire world are currently banned. In such a situation, a country with a large economy like India is suffering a huge economic loss. Now, some economic activity has been exempted in the third phase of the lockdown, and it can be expected that the country's economy will get some support.