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Manufacturing PMI drops to 2-year low in October on softening demand

The downturn in overall business activity and demand suggests the Reserve Bank of India might need to ease policy again, a survey showed

Manufacturing growth | PMI Manufacturing


Manufacturing activity in the country continued to weaken in October, with factory orders and production rising at the weakest rates in two years, a monthly survey said on Friday. The headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) fell to a two-year low of 50.6 in October from 51.4 in September. This indicates only a marginal improvement in the health of the manufacturing industry, the survey said. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction. As per the IHS Markit survey, ...

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First Published: Fri, November 01 2019. 10:59 IST