New Delhi: Manufacturing activity in India fell to a five-month low in September. Production growth slowed due to softening of new orders. This information was given in a monthly survey released on Tuesday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) fell to 57.5 in September from 58.6 in August.
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It remained at a five-month low in September. PMI data for September, however, indicated improvement in overall operating conditions for the 27th consecutive month. In PMI language, an index above 50 means expansion, while an index below 50 indicates contraction. “India’s manufacturing industry showed mild signs of a slowdown in September,” said Pauliana de Lima, economics associate director at S&P Global Market Intelligence.
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Mainly due to slow growth in new orders which led to decline in production growth. “Nevertheless, both demand and production witnessed significant growth,” he said. Companies gained new business in Asia, Europe, North America and the Middle East.
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