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India's March factory growth weakest in 5 months due to poor demand: PMI

PMI employment data signalled warning signs in the labour market as jobs growth was not sustained in March amid reports of spare operating capacity

Reuters  |  Bengaluru 

Activity in India's manufacturing sector expanded at its weakest pace in five months in March as order and production growth slowed, discouraging firms from hiring, a business survey showed on Tuesday. Orders softened despite manufacturers keeping price increases to a minimum, suggesting retail inflation will remain near the Reserve Bank of India's medium-term target of 4 percent and reinforcing views it will hold interest rates steady this year. The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, fell to 51.0 last month from February's ...

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First Published: Tue, April 03 2018. 11:10 IST