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Indian Economy - Understanding the basics of Indian economic system

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01-Mar-23

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India’s manufacturing PMI slows down to 4-month low of 55.3 in February

India’s manufacturing sector expanded at the slowest pace in four months in February but remained relatively strong amid buoyant domestic demand, despite higher inflationary pressures, a private survey showed on Wednesday.

Rising borrowing costs and weakness in manufacturing have slowed the Indian economy. It expanded 4.4% last quarter year-on-year from 6.3% in the previous quarter, data showed on Tuesday, slower than the 4.6% predicted in a Reuters poll.
The Manufacturing Purchasing Managers’ Index, compiled by S&P Global dipped to 55.3 last month from January’s 55.4, but it was higher than a Reuters poll expectation for 54.3 and still well above the 50-mark separating expansion from contraction for a 20th straight month.

By: Brijesh Kumar

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