Modest fall in factory output
S&P Global India PMI eases to 57.7 in July from 57.8 in June
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New Delhi Manufacturing sector activities in India moderated for the second straight month in July as rates of expansion in output and new orders eased slightly, a monthly survey said on Tuesday.
The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) eased to 57.7 in July from 57.8 in June. Despite the fall, the Indian manufacturing sector maintained strong growth momentum at the start of the third quarter amid ongoing buoyant demand, the survey said.
The July PMI data pointed to an improvement in overall operating conditions for the 25th straight month. In PMI parlance, a print above 50 means expansion while a score below 50 indicates contraction.
“The Indian manufacturing sector showed little sign of losing growth momentum in July as production lines continued to motor on the back of strong new order growth,” said Andrew Harker, Economics Director at S&P Global Market Intelligence.
