Friday 2 October 2015

Manufacturing Slips-Nikkei India


A business survey said that India’s manufacturing activity slowed more than expected to a seven-month low in September due to softening demand and output. With order flow turning sluggish amid “difficult economic climate”, the Nikkei India Manufacturing PMI — a composite monthly indicator of manufacturing performance, which was earlier under HSBC — stood at 51.2 in September, down from 52.3 in August. A figure above 50 represents expansion while one below that level means contraction. 




“Despite having been supported by sustained increases in new work, growth of Indian manufacturing production in September was weighed down by a difficult economic climate,” Pollyanna De Lima, Economist at Markit and author of the report, said. However, it says the region’s growth prospects for the July-September quarter are encouraging. According to PMI data, the manufacturing sector looks set to provide a stronger contribution to GDP than it did in the April-June quarter, Lima added.  

Source: http://indianexpress.com/article/business/business-others/nikkei-india-pmi-manufacturing-growth-slips-to-7-month-low/

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