India Manufacturing PMI lowest in 3 | RYT9

S&P Global revealed that India’s Manufacturing Purchasing Managers’ Index (PMI) fell to 55.1 in September, hitting a three-month low and below 56.2 in August as demand and production declined. Despite easing inflationary pressures and strong business confidence

Reuters reported that India’s manufacturing sector grew below analysts’ expectations in a Reuters poll. It was expected to be at 55.8 However, growth remained strong and remained above 50, marking the 15th straight month of expansion in India’s manufacturing sector.

Pollyanna de Lima, Deputy Director of Economics at S&P Global Market Intelligence said: “India’s manufacturing industry remains in good shape. Despite huge global pressures and concerns of a global recession. New orders and production in India increased in September at a slower but still significant rate. There are a number of important factors indicating that production will expand further, at least in the short term.”

The cost of production increased the least since October. 2020 and most companies report that the purchase price has not changed.

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