Manufacturing activity in India grew at its slowest pace in seven months, restricted by the pandemic with production, new orders and input buying expanding at softer rates and employment declining amid waning business confidence.
The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index fell to a 7-month low of 55.4 in March from 57.5 in February. Strengthening demand and receipt of orders in bulk underpinned a further rise in overall sales, making manufacturing upturn for the eighth straight month. “After starting 2021 on a stronger footing than it ended 2020, the manufacturing sector lost further growth momentum in March,” said Pollyanna De Lima, economics associate director at IHS Markit.
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