Wednesday, January 23News That Matters

Manufacturing sector grew at its slowest pace in three months in January ’18

Output, new orders, employment rise at slower rates

The Nikkei India Manufacturing Purchasing Managers’ Index (PMI), an indicator of the economic health of the manufacturing sector fell to 52.4 in January 2018 from an all-time high of 54.7 in December 2017. However, the manufacturing sector expanded for the sixth consecutive month. A reading below 50 denotes contraction and above 50 denotes expansion in the economy. The manufacturing sector improved modestly due to slower growth in output, new business orders and employment, according to IHS Markit economist Aashna Dodhia.

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