Manufacturing growth moderates, room for RBI to cut rates: PMI

FPJ BureauUpdated: Thursday, May 30, 2019, 12:17 PM IST
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New Delhi : Manufacturing sector growth moderated in September as pace of new orders and production eased, but subdued inflationary pressure may prompt RBI to cut the interest rate, a monthly survey showed on Monday.

The Nikkei Markit India Manufacturing Purchasing Managers’ Index (PMI) — a gauge of manufacturing performance — fell to 52.1 in September from 52.6 in August, indicating that growth in the sector lost some momentum. “The Indian manufacturing industry lost momentum in September as growth of new orders eased from August’s 20-month high,” said Pollyanna De Lima, Economist at IHS Markit that compiles the data and author of the report.

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