Manufacturing PMI falls to 7-month low in March as Covid cases rise

Employment declined in March, says report as central bank's committee meets for monetary policy.

Growth in manufacturing slowed to the lowest rate in seven months, as increasing Covid-19 cases hit demand, said IHS Markit’s purchasing managers' index (PMI) on Monday.

PMI fell from 57.5 in February to a seven-month low of 55.4 in March. In PMI lexicon, a reading above 50 means growth and the one below 50 shows contraction. The data came on a day the Reserve Bank of India's monetary policy committee sits for deciding the policy rate. The decision will be made on Wednesday.

"Survey participants indicated that demand growth was constrained by the escalation of the COVID-19 pandemic, while the