Manufacturing activity loses pace in Nov, falls to three-month low: PMI

While all three broad areas of the manufacturing industry recorded expansion, consumer goods segment led the growth, the only sector to see a stronger rate of increase

India’s manufacturing growth fell to a three-month low in November over fears of a fresh wave of the Covid-19 pandemic, which led to slow expansion in factory orders and exports, according to a private survey.
 
The IHS Markit India Manufacturing Purchasing Managers Index (PMI) fell from the decadal high of 58.9 seen in October to 56.3 in November.
 
“Companies noted that the pandemic was the key factor weighing on growth during November, with Covid-related uncertainty also restricting business confidence,” said Pollyanna De Lima, economics associate director at IHS Markit. The November PMI, however, indicated a sustained recovery in