Manufacturing PMI at 4-month low over record dip in new export orders

Growth in the manufacturing sector fell to a four-month low in March, with export orders crashing and domestic demand rising marginally, said a monthly survey released on Wednesday.
 

The Nikkei India Manufacturing Purchasing Managers’ Index (PMI) stood at 51.8 in March, after February’s 54.5 — much below the eight-year high of 55.3 in January. In PMI parlance, a figure above 50 means expansion, while a score below that denotes contraction.
 

The beleaguered sector had last contracted in October, when the index fell to a two-year low of 50.6. However, official data shows contraction has remained entrenched in the sector. Experts