NEW DELHI: India’s manufacturing sector growth slowed to a four-month low in March as a nationwide lockdown, called to contain the covid-19 outbreak, threw economic activity out of gear, according to a private survey released on Wednesday.
The manufacturing Purchasing Managers’ Index (PMI) for India declined to 51.8 in March from 54.5 in February, according to data analytics firm IHS Markit.
A figure above 50 indicates expansion, while a sub-50 print signals contraction. The survey by IHS Markit tracks new orders, output, jobs, suppliers’ delivery time, and stocks of purchases for around 400 manufacturers.
Eliot Kerr, economist at the firm, said the most prominent signs of trouble for Indian manufacturers came from new export orders and
Read more on livemint.com