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Financial News: India's Manufacturing Growth Slows In May

India's Manufacturing Growth Slows In May

06/01/2018 - 01:45:00 (RTTNews)

(RTTNews) - India's manufacturing activity continued to expand in May, though at a weaker pace than in the previous month, survey data from IHS Markit showed Friday.

The Nikkei manufacturing Purchasing Managers' Index, or PMI, fell to 51.2 in May from 51.6 in April. However, any reading above 50 indicates expansion in the sector.

Among components, output, new orders and employment all increased at slower rates in May.

Meanwhile, new export orders grew at the strongest pace in three months amid reports of greater demand from international markets.

On the price front, inflationary pressures intensified with both input and output prices rising at the fastest pace since February.

Businesses remained confident towards the 12-month outlook for output in May. But, the corresponding index remained below the historical average.

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