India Factory Growth Hits Five-Year Low in August
India manufacturing sector growth slowed to a five-year low in August as weak demand led to job losses for the first time in over two years. The HSBC India PMI fell to 52.8, reflecting challenging market conditions and easing input costs.
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India's manufacturing sector expanded at its slowest pace in five years in August as demand softened, pushing the PMI down to 52.8. The reading followed a 53.5 print in July, according to data compiled by S&P GLOBAL INC and HSBC HOLDINGS PLC-SPONS ADR's survey. The broader economy grew 7.8% year-on-year in the April-June quarter, but momentum is cooling across industrial output.
