India's manufacturing PMI cools to three-month low in September

To rein in inflation, the RBI had hiked its key interest rate by a cumulative 190 basis points since early May

India’s manufacturing Purchasing Managers’ Index (PMI) dipped to a three-month low in September. However, output still remained robust, notwithstanding global headwinds and recession fears in developed countries.  

Although the seasonally adjusted S&P Global India PMI slipped from 56.2 in August to 55.1 in September, there was greater demand from both international and domestic clients, revealed a survey by S&P Global. 

A print above 50 indicates expansion in manufacturing activity. A score below that represents contraction.

“New orders, international sales, and output increased in each of the three broad areas of the manufacturing industry. In all cases, the strongest growth rates