ENA Economy 2019-05-02 09:06:43 <p><strong>New Delhi, May 2 (KNN)</strong> 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.</p> <p>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.</p> <p>The PMI for the month of April indicates softer increase in new orders restricted growth of output, employment and business sentiment.</p> <p> 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.</p> <p>With price pressures in the manufacturing economy cooling and growth losing momentum, its increasingly likely that the RBI may cut its official rate for a third successive time in June, Lima added.</p> <p><iframe frameborder="0" height="540" id="mgiframe" src="//mg.mgid.com/mghtml/framehtml/c/k/n/knnindia.co.in.338951.html" width="100%"></iframe></p> 22584 https://knnindia.co.in/news/newsdetails/economy/nikkei-india-manufacturing-pmi-reflects-slow-growth-in-april 2019-05-02 09:06:43 knnindia.co.in