New Delhi : Manufacturing sector growth slipped further and touched a 22-month low in October largely due to slower increase in new orders, but firms hired additional workers.
The Nikkei India Manufacturing PMI — a composite monthly indicator of manufacturing performance — stood at 50.7 in October, down from 51.2 in September, reflecting a weaker improvement in business conditions across the sector. “PMI data for October show a further loss of growth momentum across the Indian manufacturing economy, with a slower rise in new business inflows resulting in a weaker expansion of output,” Pollyanna De Lima, Economist at Markit and author of the report, said. -PTI
