<p>India’s manufacturing activities growth declined to a five-month low in September due to slower increase in new orders, which tempered production growth and exports, an industry survey by S&P Global showed.</p>.<p>Purchasing Managers’ Index (PMI) for manufacturing declined to 57.5 in September from 58.6 in the previous month.</p>.<p>The PMI print above 50 indicates growth in the sector while below 50 shows contraction.</p>.India asks producers for 'sensitivity' as oil price hovers near $90.<p>“Although the lowest for five months, the latest reading remained firmly above the no-change mark of 50.0 and its long-run average (53.9), therefore signalling a sharp rate of expansion,” S&P Global said in the survey report.</p>.<p>New orders rose at a softer pace in September and new export orders softened from August’s nine-month high. Companies that participated in the survey reported new business gains from clients in Asia, Europe, North America and the Middle East.</p>.<p>“Manufacturers held a strongly positive outlook for production, as they expect demand to strengthen over the course of the coming 12 months,” said Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence.</p>.<p>The PMI is a weighted average of five indices: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%) and Stocks of Purchases (10%).</p>.<p>September data showed a let-up in the recent surge in costs faced by Indian goods producers. After quickening to a one-year high in August, the rate of inflation receded to its lowest mark in over three years in September. Stable supply-chain conditions helped in bringing down input price inflation during the month under review.</p>.<p>“The solid increase in output charges signalled by the PMI data, which occurred in spite of a notable retreat in cost pressures, could restrict sales in the coming months,” De Lima said.</p>.<p>Output rose at the slowest pace in five months, albeit one that was substantial and above the long-run series average. </p>.<p>On job creation, the report noted: “The positive outlook for production and demand strength fed through to another round of job creation in the manufacturing industry. Employment growth picked up since August and was strong by historical standards.” </p>.<p>“Upbeat forecasts continued to drive job creation efforts and initiatives to replenish input stocks,” De Lima said.</p>
<p>India’s manufacturing activities growth declined to a five-month low in September due to slower increase in new orders, which tempered production growth and exports, an industry survey by S&P Global showed.</p>.<p>Purchasing Managers’ Index (PMI) for manufacturing declined to 57.5 in September from 58.6 in the previous month.</p>.<p>The PMI print above 50 indicates growth in the sector while below 50 shows contraction.</p>.India asks producers for 'sensitivity' as oil price hovers near $90.<p>“Although the lowest for five months, the latest reading remained firmly above the no-change mark of 50.0 and its long-run average (53.9), therefore signalling a sharp rate of expansion,” S&P Global said in the survey report.</p>.<p>New orders rose at a softer pace in September and new export orders softened from August’s nine-month high. Companies that participated in the survey reported new business gains from clients in Asia, Europe, North America and the Middle East.</p>.<p>“Manufacturers held a strongly positive outlook for production, as they expect demand to strengthen over the course of the coming 12 months,” said Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence.</p>.<p>The PMI is a weighted average of five indices: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%) and Stocks of Purchases (10%).</p>.<p>September data showed a let-up in the recent surge in costs faced by Indian goods producers. After quickening to a one-year high in August, the rate of inflation receded to its lowest mark in over three years in September. Stable supply-chain conditions helped in bringing down input price inflation during the month under review.</p>.<p>“The solid increase in output charges signalled by the PMI data, which occurred in spite of a notable retreat in cost pressures, could restrict sales in the coming months,” De Lima said.</p>.<p>Output rose at the slowest pace in five months, albeit one that was substantial and above the long-run series average. </p>.<p>On job creation, the report noted: “The positive outlook for production and demand strength fed through to another round of job creation in the manufacturing industry. Employment growth picked up since August and was strong by historical standards.” </p>.<p>“Upbeat forecasts continued to drive job creation efforts and initiatives to replenish input stocks,” De Lima said.</p>