India’s manufacturing economy logged a growth slowdown in April, survey data from Markit Economics showed Monday.
The headline HSBC manufacturing Purchasing Managers’ Index fell to 51.3 in April from 52.1 in March. Nonetheless, the index stayed above 50 threshold for the eighteenth successive month.
Production has increased for one-and-a-half years, although the pace of expansion eased in April. This was mainly caused by softer increase in order book volumes.
New order volumes continued to rise in April, marking an 18-month expansionary sequence. However, the rate of growth moderated since March.
Demand from external markets remained strong as the level of new export orders increased at a solid pace. Companies reported greater inflows of new business from key export clients.
Job losses were reported for the second time in the year-to-date. Nevertheless, the rate of job shedding was fractional.
Purchasing activity growth moderated in April, leading to a weaker accumulation in pre-production stocks. The latest increase in buying levels was the least pronounced since October 2014.
On the price front, input prices continued to increase in April, albeit at a weaker rate. April data highlighted the first decrease in average selling prices for almost two years.
The material has been provided by InstaForex Company – www.instaforex.com