Manufacturing growth cools in Sep; higher rates may keep it lower for longer
SummaryLooking ahead, domestic demand may see some pressure with higher interest rates still feeding into the economy. This could hurt growth in the manufacturing sector in the coming months.
The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) was resilient in September, although it did cool down a notch. The private survey’s reading of 57.5 for September is the lowest reading in the past five months. A PMI reading above 50 denotes expansion.