September manufacturing PMI same as August’s on weak demand

Mumbai: The country's manufacturing sector activity in September remained unchanged amid subdued demand conditions both domestically as well as externally, a monthly survey said on Tuesday.

The IHS Markit India Manufacturing PMI was at 51.4 in September, unchanged from August and thereby posting its joint-lowest reading since May 2018.

This is the 26th consecutive month that the manufacturing PMI has remained above the 50-point mark. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.

The survey noted that business confidence sank to one of the lowest levels seen in over two-and-a-half years.

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