Mfg sector growth falls to 5-mth low

Source: The Hitavada      Date: 04 Apr 2018 11:26:48




INDIA’S manufacturing sector activity fell to a five-month low in March, as new business orders rose at a slower pace, and firms showed little appetite for recruitment, says a monthly survey. Nikkei India Manufacturing Purchasing Managers Index (PMI), fell from 52.1 in Feb to a 5-month low of 51.0 in March, indicating slowest improvement in operating conditions recorded by survey since last October. This is the eighth consecutive month that index remained above the 50-point-mark. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction. “India’s manufacturing sector continued to grow, albeit at the weakest pace since Oct, reflecting weaker gains in new business and a decline in employment for the first time in eight months,” said Aashna Dodhia, Economist at IHS Markit and author of the report.