09-October-2024
Economy News
 
India’s manufacturing PMI drops to eight-month low of 56.5 in September on slow growth pace of new orders, output
01-Oct-2024

India’s manufacturing activity fell to an eight-month low of 56.5 in September, in comparison to 57.5 in August, highlighting a robust improvement in the health of the sector that was nonetheless the weakest since January, data released by S&P Global on Tuesday showed. With manufacturing growth softening throughout the second fiscal quarter, the average PMI reading slipped to its lowest since the three months to December 2023, it said. Pranjul Bhandari, Chief India Economist at HSBC, said, “Momentum in India’s manufacturing sector softened in September from the very strong growth in the summer months.”

News Source:- https://www.financialexpress.com/policy/economy-indias-manufacturing-pmi-drops-to-eight-month-low-of-56-5-in-september-on-slow-growth-pace-of-new-orders-output-3627145/