Manufacturing PMI drops to 2-year low in October on softening demand

Manufacturing activity in the country continued to weaken in October, with factory orders and production rising at the weakest rates in two years, a monthly survey said on Friday. The headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) fell to a two-year low of 50.6 in October from 51.

4 in September. This indicates only a marginal improvement in the health of the manufacturing industry, the survey said. In PMI parlance, a print above 50 means expansion, while a score below that.

This article is no longer available in our repository.

There could be multiple reasons for this.