Factory growth slowed to 4-mth low in Jan; inflation fears hit confidence

The Manufacturing Purchasing Managers' Index, compiled and collected by IHS Markit from Jan. 12-25, fell to 54.0 in January from Dec's 55.5.

Growth in India's factory activity slowed to a four-month low in January as COVID-19 curbs hurt new orders and output, while high price pressures weighed on business confidence about the year ahead, a business survey showed.

The Manufacturing Purchasing Managers' Index, compiled and collected by IHS Markit from Jan. 12-25, fell to 54.0 in January from December's 55.5.

While the latest reading is slightly lower than the 54.6 expected in a Reuters poll of economists, the index was firmly above the 50 mark that separates growth from contraction for a seventh month.

That adds to evidence that the Omicron coronavirus variant will likely