Markit India Manufacturing Purchasing Managers Index (PMI) increased from 27.4 to 30.8
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Markit India Manufacturing Purchasing Managers Index (PMI) increased from 27.4 to 30.8
India's PMI increased to 30.8 in May from 27.4 in April. Any reading below 50 indicates contraction in the sector. New orders continued to fall in May and were the second-fastest since the inception of series in March 2005. Demand from international market deteriorated further. Purchasing activity reduced in May as need for inputs decreased.
"This result is particularly poignant given the record contraction in April which was driven by widespread business closures," Eliot Kerr, an economist at IHS Markit, said.
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