India’s manufacturing sector growth eases in May: PMI

Mumbai, June 1 : The pace of India’s manufacturing sector output eased in May, a key economic data point showed on Friday.

Accordingly, the Nikkei India Manufacturing Purchasing Managers’ Index (PMI), a composite indicator of manufacturing performance came in at 51.2 from 51.6 in April 2018.

An index reading of above 50 indicates an overall increase in economic activity and below 50 an overall decrease.

Commenting on the Indian manufacturing PMI survey data, Aashna Dodhia, Economist at IHS Markit and author of the report, said: “The latest PMI survey signalled a further, albeit slower, improvement in the health of the manufacturing sector in May.”

“This was reflective of weaker expansions in output, employment and new business. On the other hand, the gain in new orders from overseas markets was the strongest since February.” (IANS)