Financial News: India Manufacturing Growth Eases Slightly In August

India Manufacturing Growth Eases Slightly In August

09/02/2024 - 03:26:00 (RTTNews)

(RTTNews) - India's manufacturing sector continued to expand strongly in August, though the pace of growth eased somewhat amid softer rises in new orders and output, survey results from S&P Global showed on Monday.

The seasonally adjusted HSBC Manufacturing Purchasing Managers' Index dropped to 57.5 in August from 58.1 in July. Nonetheless, a score above 50.0 indicates expansion.

New orders grew at the slowest pace in seven months in August amid competitive conditions. The overall growth was attributed to the increase in advertising, brand recognition, and healthy demand trends. New export orders also increased at a weaker rate.

During August, firms expressed concern about fierce competition and shifts in consumer preferences negatively impacted output at their units. The pace of expansion in output eased to the slowest since January. Job creation also softened, but the overall rate of employment growth was solid.

On the price front, cost pressures eased in August, and the rate of input prices rose at the slowest pace in five months. This helped firms to increase their purchasing activity for additional raw materials and semi-finished goods. Despite this, selling price inflation accelerated.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Swiss Consumers More Pessimistic In August (36 min(s), 56 sec(s) ago)
(RTTNews) - Confidence among Swiss consumers remained more negative in August, survey results from ...Full Story»

U.S. Job Growth Misses Estimates In August But Unemployment Rate Dips (03 min(s), 56 sec(s) ago)
(RTTNews) - Employment in the U.S. rose by less than expected in the month of August, according to ...Full Story»

Czech Industrial Output Decline Softens; Trade Deficit Narrows (33 min(s), 04 sec(s) ago)
(RTTNews) - The Czech Republic's industrial production decreased for the fifth straight month, ...Full Story»

U.S. Employment Climbs Less Than Expected In August (40 min(s), 04 sec(s) ago)
(RTTNews) - Employment in the U.S. rose by less than expected in the month of August, according to ...Full Story»

Eurozone GDP Growth Slows In Q2 (01 hr(s), 06 min(s), 04 sec(s) ago)
(RTTNews) - Euro area economic growth rate for the second quarter was revised down as the positive ...Full Story»

France Industrial Output Falls 0.5% (01 hr(s), 33 min(s), 04 sec(s) ago)
(RTTNews) - France's industrial production decreased more-than-expected in July after reboundi ...Full Story»

Italy Retail Sales Rebound 0.5% (02 hr(s), 20 min(s), 04 sec(s) ago)
(RTTNews) - Italy's retail sales increased more-than expected in July after falling in the pre ...Full Story»

French Trade Gap Narrows In July (02 hr(s), 51 min(s), 04 sec(s) ago)
(RTTNews) - France's trade deficit decreased in July from a year ago as imports fell faster th ...Full Story»