India's manufacturing sector activity growth inches up in November, but remains subdued: PMI survey
FirstpostNew Delhi: The country’s manufacturing sector activity inched up in November, but the upturn remained subdued as growth rates for new orders as well as production were modest, a monthly survey said on Monday. The IHS Markit India Manufacturing PMI rose to 51.2 in November from 50.6 in October, when it had fallen to a two-year low, indicating only a slight improvement in the health of the sector. November Nikkei Manufacturing PMI comes in at 51.2 Vs 50.6 pic.twitter.com/w0YCMbZz83 — CNBC-TV18 December 2, 2019 Although business conditions in the Indian manufacturing sector improved in November, the rise, however, remained subdued compared to earlier this year and the survey history, the study said. “PMI data continued to show a lack of inflationary pressures in the sector which, combined with slow economic growth, suggests that the RBI will likely extend its accommodative policy stance and further reduce the benchmark interest rate during December,” Lima said.