India's manufacturing PMI drops to 15-month low in August
Updated : September 02, 2019 12:09 PM IST
The country's manufacturing sector activity declined to its 15-month low in August, owing to slower increases in sales, output and employment, a monthly survey said on Monday.
The IHS Markit India Manufacturing Purchasing Managers' Index (PMI), fell to 51.4 in August, its lowest mark since May 2018, from 52.5 in July, as most survey indicators fell since July to signal a widespread loss of momentum.
India's economic growth has slumped for the fifth straight quarter to an over six-year low of 5 percent in the three months ended June as consumer demand and private investment slowed amid deteriorating global environment.
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