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The Economic Times
The Economic Times

India's factory growth at five-year low in August on weakening demand, PMI shows

India

Bengaluru: India's manufacturing sector expanded at its slowest pace ​in five years ​in August as demand remained soft, leading to ​job losses for the first time in more than two years, a survey showed.

The HSBC India Manufacturing Purchasing Managers' Index (PMI), compiled by ‌S&P Global, ⁠fell ⁠to 52.8 in August from 53.5 in July, slightly lower than a ​preliminary estimate of 52.9.

A PMI reading above 50.0 indicates growth in ​activity.

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