Manufacturing activity in India slowed to a three-month low in May as new orders moderated but producers were most optimistic in six months about the future. The Nikkei India Manufacturing Purchasing Managers' Index was down from 52.5 in April to 51.6 in May. The 50-point mark separates contraction from expansion.
The May data pointed to softer expansions in both new orders and production. Incoming new work rose at the weakest pace since February, with slowdowns evident in the consumer and intermediate goods categories. Capital goods producers, meanwhile, recorded a contraction in order books. Output growth across the manufacturing sector as a whole was at a three-month low.
International demand for Indian-manufactured goods deteriorated in May , as signalled by a decline in new export orders. The contraction was only slight, but ended a three month sequence of growth.
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