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Showing posts with label India Macro Picture. Show all posts
Showing posts with label India Macro Picture. Show all posts

Sunday, October 03, 2010

India's manufacturing PMI slumps in Sept: HSBC-Markit


Manufacturing activity in India slowed in September after being steady for the past two months, as new orders and output declined, according to a private survey done by HSBC Holdings Plc and Markit Economics. The monthly purchasing managers' index (PMI), based on a survey of 500 companies, slowed to 55.1 in September from 57.2 in August, HSBC-Markit said in a statement. This was the lowest reading since November last year. A reading over 50 indicates expansion while anything below that threshold denotes contraction. This was the 18th consecutive month India's manufacturing PMI has remained above the 50 mark.