India’s factory activity likely slowed to a three-month low in May, with output levels easing due to a reduction in working hours amid an...
India’s factory activity likely slowed to a three-month low in May, with output levels easing due to a reduction in working hours amid an intense heatwave and a rise in production costs that flared up to a level only experienced once over the previous 21 months, as per the HSBC India Manufacturing Purchasing Managers’ Index (PMI) survey.
Fresh orders for factories moderated to the lowest level since February, with election-related disruptions and competition affecting domestic demand, even as export orders grew at the fastest pace in more than 13 years, as per the survey findings
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