Factory output moderates in January
Mfg PMI declines to 55.4 in Jan from 57.8 Dec amid slower increase in total sales and headcounts
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New Delhi: India's manufacturing sector activity moderated in January amid slower increase in total sales, and headcounts were broadly unchanged amid sufficient staff numbers to cope with current requirements, according to a monthly survey.
The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) fell from December's recent high of 57.8 to 55.4 in January, as factory orders and production rose at sharp, albeit slower, rate. The January PMI data pointed to an improvement in overall operating conditions for the 19th straight month.
In PMI parlance, a print above 50 means expansion while a score below 50 indicates contraction. "Despite some loss of growth momentum, the sector looks set to at least remain in expansion mode as the final quarter of the current fiscal year draws to a close," said Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence.
