September PMI manufacturing comes at 57.5, slowest expansion in 5 months
India's manufacturing activity dropped five month-low in September, according to S&P Global. Its manufacturing Purchasing Managers' Index (PMI) for India fell to 57.5 in September, the lowest since May. In August, the PMI was 58.6.
The fall in PMI was primarily attributed to a softening in the number of new orders.
"India's manufacturing industry showed mild signs of a slowdown in September, primarily due to a softer increase in new orders, which tempered production growth. Nevertheless, both demand and output saw significant upticks, and firms also noted gains in new business from clients across Asia, Europe, North America and the West Asia," said Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence.
S&P Global said ...
