Economy
India's Manufacturing PMI Falls to 5-Year Low of 53.5 in July Amid Slower New Orders
The Hindu1h
THE BRIEF
1
India's manufacturing sector activity growth dropped to a five-year low in July, with the seasonally adjusted HSBC India Manufacturing PMI falling to 53.5 from 54.2 in June.
2
The slowdown was attributed to a slower rise in new business orders and increasingly challenging market conditions, marking the lowest reading since August 2021.
3
Job creation in the manufacturing industry weakened for the third consecutive month, recording the slowest increase in the current 29-month period of uninterrupted growth.