For Quick Alerts
For Daily Alerts

Manufacturing Growth In India Slows


The Nikkei India Manufacturing Purchasing Managers' Index, compiled by Markit, fell to 52.3 in August from July's 52.7, showing a slowing in pace of manufacturing.

A reading above 50 indicates expansion.

Manufacturing Growth In India Slows
"Growth of Indian manufacturing production waned in August on the back of softer improvements in both domestic and foreign demand. This led firms to keep payroll numbers unchanged during month," De Lima said.

The slowing of growth clearly indicates what many observers have been saying on things not moving as fast as anticipated and the need for desperate reforms. It also raises pressure on the Reserve Bank of India to cut interest rates after GDP for the first quarter ending June 30, 2015 also slowed.

Although manufacturing business conditions continued to improve in August, latest data pointed to weaker rates of expansion for both output and new orders, a Markit release has stated.

On the price front, input costs decreased for the first time in six months and, subsequently, firms lowered their selling prices.

Elsewhere, post-production inventories contracted at the sharpest pace since data were first collected in April 2005.

Read more about: markit pmi
Story first published: Tuesday, September 1, 2015, 11:10 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more