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Manufacturing suffers setback in June; PMI down to 52.1 on weak demand

Easing price pressure is likely to keep overall retail inflation in check

Reuters  |  Bengaluru 

Growth in India’s manufacturing sector slowed last month as the expansion in new orders and output eased despite factories cutting prices again, according to a private survey which also showed a decrease in the rate of hiring. The Nikkei Manufacturing Purchasing Managers’ Index, compiled by IHS Markit, fell to 52.1 in June from 52.7 in May, but remained above the 50-mark that separates growth from contraction for a 23rd month. “PMI data highlighted a slight setback in the Indian manufacturing sector during June,” said Pollyanna De Lima, principal economist ...

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First Published: Mon, July 01 2019. 10:50 IST
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