Key Points
India's manufacturing growth softened for the second straight month as demand eased, which alongside bigger increases in the cost of raw materials had an impact on business confidence, a private survey showed on Wednesday...
S&P Global Manufacturing Purchasing Managers' Index showed factory activity dropped to an eight-month low of 55.5 in October from 57.5 in September..
Still, insights from surveyed purchasing managers pointed to the deceleration of several measures," said Pollyanna De Lima, Economics Associate Director at S&P Global Market Intelligence...
"Consumer goods was behind most of the slowdown, recording considerably softer increases in sales, production, exports, input inventories and buying levels," De Lima added...
"Qualitative evidence from the future output question revealed an interesting finding, as reports of rising inflation expectations were expected to dent demand and subsequently production growth over the course of the coming 12 months," added De Lima...
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