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Jan manufacturing PMI growth at a three-month low on weaker demand

The new orders sub-index, a proxy for domestic demand, slumped to 53.0 from December's 56.8


Indian factory growth cooled to a three-month low in January as weaker domestic demand dragged on output despite firms keeping price increases to a minimum, a business survey showed on Thursday. The Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, fell to 52.4 last month from December's 54.7. While the latest reading undershot the 54.5 expected in a Reuters poll of economists, the index has now stayed above the 50 mark that separates growth from contraction for a sixth month. "Following December's stellar performance, growth in the ...

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First Published: Thu, February 01 2018. 10:58 IST