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Nikkei India Manufacturing PMI reflects slow growth in April

Updated: May 02, 2019 09:06:43am
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Nikkei India Manufacturing PMI reflects slow growth in April

New Delhi, May 2 (KNN) The Nikkei India Manufacturing Purchasing Managers’ Index dropped to 51.8 in April 2019 from 52.6 in March reflecting slow growth in manufacturing activity due to competitive pressure.

This is the 21th consecutive month that the manufacturing PMI remained above the 50-point mark. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.

The PMI for the month of April indicates softer increase in new orders restricted growth of output, employment and business sentiment.

"Although remaining inside expansion territory, growth continued to soften and the fact that employment increased at the weakest pace for over a year suggests that producers are hardly gearing up for a rebound," said Pollyanna De Lima, Principal Economist at IHS Markit and author of the report.

With price pressures in the manufacturing economy cooling and growth losing momentum, it’s increasingly likely that the RBI may cut its official rate for a third successive time in June,” Lima added.

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