India’s manufacturing Output Slips To 22-Month Low In October

02 November, New Delhi

India’s manufacturing sector growth slipped further and touched a 22-month low in October largely due to a slower increase in new orders, but firms hired additional workers, a Nikkei survey said Monday .

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.

A figure above 50 represents expansion while one below that means contraction. On prices, the report said October saw inflationary pressures return to India’s manufacturing economy. The rate of increase was, however, only “slight”, the survey said.