New Delhi. Manufacturing activity in India fell to an eight-month low in October. Production growth slowed due to slowdown in new orders. This information was given in a monthly survey released on Wednesday.
The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) fell to 55.5 in October from 57.5 in September. It remained at an eight-month low in October. PMI data for October, however, indicated improvement in overall operating conditions for the 28th consecutive month. In PMI language, an index above 50 means expansion, while an index below 50 indicates contraction.
“The new orders index slipped to a one-year low,” said Pauliana de Lima, associate director of economics at S&P. Some companies have expressed concern about the current demand for their products.' According to the survey, there was a substantial, albeit slow, increase in total new orders, production, exports, purchase levels and purchases.
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