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Financial News: India Manufacturing Growth At 4-Month Low

India Manufacturing Growth At 4-Month Low

07/03/2017 - 01:18:00 (RTTNews)

(RTTNews) - India's manufacturing activity expanded at the weakest pace in four months in June, mainly due to softer rise in new orders, survey data from IHS Markit showed Monday.

The Nikkei manufacturing Purchasing Managers' Index fell to a four-month low of 50.6 in June from 51.6 in May. However, any reading above 50 indicates growth in the sector.

A softer increase in factory new orders resulted in weaker growth of output, with rates of expansion at four-month lows in both cases.

At the same time, foreign demand for Indian manufactured good improved in June, with export orders rose at the sharpest pace in eight months.

Manufacturing employment and purchasing activity increased in June, albeit marginally.

On the price front, input price inflation was modest and the weakest since August 2016. Similarly, output prices rose at a slower pace.

Looking ahead, manufacturers in India forecast output growth in the coming 12 months. Nonetheless, some companies mentioned that the implementation of the GST bill will have a negative impact on their businesses.

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