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03 September 2018
 |
| PMI
(The Total Investment & Insurance Solutions) |
Growth in India’s manufacturing sector unexpectedly slowed in August as
domestic demand softened, a private business survey showed today. Data on
Friday showed the Indian economy
expanded 8.2% in the April-June quarter, its fastest pace in more than
two years, driven by solid growth in manufacturing and consumer spending. The Total Investment & Insurance
Solutions
But the Nikkei Manufacturing Purchasing Managers’ Index (PMI), compiled
by IHS Markit, suggested a slight loss of momentum last month. The activity
gauge fell to a three-month low of 51.7 from July’s 52.3. Analysts polled by
Reuters had expected growth to pick up, forecasting a reading of 52.8.
Still, the rate of expansion remained solid. The PMI has not been below
the 50-mark which separates growth from contraction since July 2017, when
manufacturing took a hit from the hasty implementation of a goods and services
tax. The Total
Investment & Insurance Solutions
Although sub-indices tracking output and total orders touched
three-month lows last month, foreign demand rose at the quickest pace since
February despite global trade tensions. The Total Investment & Insurance Solutions
A weakening Indian rupee,
which has been hitting fresh lows against the US dollar in the past few months,
likely boosted exports.
Meanwhile, input prices rose at the slowest pace since May and the rate
of increase in output prices fell, signalling a further easing in overall
inflation pressures.
The Total Investment & Insurance Solutions
“Indian manufacturers retained positive projections for output over the
next 12 months, but the level of sentiment eased in August. Indeed, some of the
key headwinds facing the economy include high global oil prices, monetary
policy tightening, and capital outflows from emerging markets,” IHS Markit
economist Aashna Dodhia said in a statement.The Total Investment & Insurance Solutions
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