Manufacturing activity falls to four-month low in September

India’s manufacturing sector activity eased in September, as new orders, output and input buying rose at the slowest rates in four months, while job creation retreated to a one-year low, a monthly survey said on Wednesday.

- OUR CORRESPONDENT

‘The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index moderated from 59.3 in August to 57.7 in September, pointing to the weakest improvement in the health of the sector since May, even as tax relief has boosted business optimism for the year ahead.

In the Purchasing Managers’ Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction.

“The September headline index softened, but it remained well above the long-term average.” said Pranjul Bhandari, Chief India Economist at HSBC.