Mfg PMI at 14-month low in Feb

Slowing output Manufacturing PMI in Feb fell to 56.3.

- Rhik Kundu

India's manufacturing growth fell in February, after rising to a six-month high in January, as sales and output growth rates retreated to a 14-month low, a private survey released on Monday said.

The HSBC India Manufacturing Purchasing Managers Index (PMI), compiled by S&P Global, fell to 56.3 in February from 57.7 in January. It was 56.4 in December and 56.5 in November.

A PMI reading above 50 indicates expansion, and below that contraction. The February PMI number was based on responses from 400 manufacturers.

The seasonally adjusted HSBC India PMI is still indicative of a further robust improvement in the health of the sector, the survey said.