India's Manufacturing Slows A Tad, But Remains In Expansion Mode: Survey The survey encompasses responses collected by sending questionnaire to the purchasing managers in a panel of around 400 manufacturers
By Teena Jose
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According to a recent survey report, India's activity in the manufacturing sector slowed in September, but remained strongly in the expansion mode for the 15th consecutive month, elevating the business optimism with rise in production where there showed a decline in the input cost inflation.
The S&P global India manufacturing purchasing index slips to 55.1 in September from 56.2 in August. The point above 50 on the index reflects expansion while below that indicates contraction in activity. The survey encompasses responses collected by sending questionnaire to the purchasing managers in a panel of around 400 manufacturers.
"The latest set of PMI data show us that the Indian manufacturing industry remains in good shape, despite considerable global headwinds and recession fears elsewhere," said Pollyanna De Lima, global market intelligence economics associate director, S&P, in a statement.
"New orders and production have substantially increased in September, with some leading indicators suggesting that output is set to likely expand more at least in the short-term," added Lima.
According to the survey, the overall level of positive sentiment seen in September was the best in over seven and a half years. It also stated that the anecdotal evidence pointed to greater demand from domestic and global clients and ongoing increases in new work and efforts to lift production boosted job creation in September, which rose at the quickest pace in three months.
