Manufacturing PMI falls to 3-month low of 51.7 in August from 52.3 in July

Oil prices, tight monetary policy, capital outflows from EMs to blame: Experts

Manufacturing growth eased for the second consecutive month in August, mainly on account of slower gains in output and decline in fresh orders, the widely tracked Nikkei purchasing managers' index (PMI) showed.

The numbers are in contrast to the strong manufacturing growth (13.1 per cent) in the first quarter (April to June, or Q1) of 2018-19 (FY19).

The index fell to 51.7 in August from 52.3 in July, as operating conditions improved at the slowest pace since May.

The PMI data suggested domestic demand conditions improved at a slower pace than the preceding month.

In GDP data, the domestic demand, as denoted by the