<p>After a decade-high growth last month, India’s manufacturing PMI slipped to a three-month low in November amid a slower increase in demand for goods and exports, a private survey showed.</p>.<p>The Nikkei Manufacturing Purchasing Managers’ Index compiled by IHS Markit fell from 58.9 in October to a three-month low of 56.3 in November. A print above 50 denotes expansion, while a score below that denotes contraction.</p>.<p>“The Indian manufacturing sector remained on the right path to recovery, with strong growth of new orders and output sustained during November,” Pollyanna De Lima, Economics Associate Director at IHS Markit, said.</p>.<p>Lima said the softening of rates of expansion does not represent a setback, since these are down from over decade highs and a spike in Covid cases.</p>.<p>Firms are projecting sustained demand growth in the near-term and responded to this by lifting input buying to increase their safety stocks.</p>
<p>After a decade-high growth last month, India’s manufacturing PMI slipped to a three-month low in November amid a slower increase in demand for goods and exports, a private survey showed.</p>.<p>The Nikkei Manufacturing Purchasing Managers’ Index compiled by IHS Markit fell from 58.9 in October to a three-month low of 56.3 in November. A print above 50 denotes expansion, while a score below that denotes contraction.</p>.<p>“The Indian manufacturing sector remained on the right path to recovery, with strong growth of new orders and output sustained during November,” Pollyanna De Lima, Economics Associate Director at IHS Markit, said.</p>.<p>Lima said the softening of rates of expansion does not represent a setback, since these are down from over decade highs and a spike in Covid cases.</p>.<p>Firms are projecting sustained demand growth in the near-term and responded to this by lifting input buying to increase their safety stocks.</p>
