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Manufacturing activities at 11-month low in November
The New Indian Express Kochi
|December 03, 2024
Factory jobs increased during November for the ninth month in a row
THE manufacturing sector activities declined in November, restricted by competitive conditions and inflationary pressures amid a softer increase in factory orders, a monthly survey said on Monday.
The purchasing managers index (PMI) plunged to an 11-month low of 56.5. In the previous month, the index had stood at 57.5, yet the reading does not indicate contraction as it's still strong above 50. This comes days after the government had said the economic growth slumped to a seven-quarter low of 5.4% in the September quarter, leading to a rash of growth downgrades ranging from a low of 6% to 6.8% for the full fiscal.
This story is from the December 03, 2024 edition of The New Indian Express Kochi.
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