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INDIA'S MANUFACTURING SECTOR GROWTH HITS 5-MONTH LOW, PMI INDEX FALLS TO 57.5, FROM 58.6 IN AUG 23
The Business Guardian
|October 04, 2023
After quickening to a one-year high in August, the rate of inflation receded to its lowest mark in over three years. Panellists
India’s manufacturing sector growth declined in September 2023 as goods producers posted a slowdown which was the lowest for five months, with new orders, the largest sub-component of the PMI, rising at a softer pace in September. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index registered 57.5 in September, down from 58.6 in August showed on Tuesday but the latest reading remained firmly above the no-change mark of 50.0 and its longrun average (53.9), therefore signalling a sharp rate of expansion.
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