Print Edition - 2017-07-04 | Money Digest
Indian June’s manufacturing growth cools
-, NEW DELHI
Jul 4, 2017-
Activity in India’s manufacturing sector eased to a four-month low in June amid a slowdown in output and new orders as softer domestic consumption partly offset strong foreign demand, a private business survey showed on Monday. The Nikkei India Manufacturing Purchasing Managers’ Index, compiled by IHS Markit, fell to 50.9 in June from 51.6 in May, but still held above the 50 level that separates growth from contraction for a sixth straight month. Factory activity has recovered since December, when it contracted for the first time in a year after Prime Minister Narendra Modi’s Nov. 8 move to ban high-value currency notes crunched demand. Manufacturing growth slowed last month largely as domestic consumption cooled even as external demand remained solid. The new orders sub-index—which takes into account both domestic as well as foreign demand—declined to 51.3, the lowest level since February.
Published: 04-07-2017 10:29