New Delhi: A survey conducted by S&P Global revealed that the factory growth in the country slipped down to a 3-month low in September. The decline in demand and output is the main reason for this.
The Manufacturing Purchasing Managers’ Index fell to 55.1 in September. It was at 56.2 in August. Earlier, economists predicted the index to be at 55.8. The Manufacturing Purchasing Managers’ Index was above the 50-mark separating growth from contraction for a 15th straight month.
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‘The Indian manufacturing industry remains in good shape, despite considerable global headwinds and recession fears elsewhere. There were softer, but substantial, increases in new orders and production in September, with some leading indicators suggesting that output looks set to expand further at least in the short-term,’ said Pollyanna De Lima, economics associate director at S&P Global Market Intelligence.
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