Key Points
New Delhi: Indias manufacturing activity in October grew at the slowest pace in eight months, dragged down by slowing demand in the consumer goods segment, even as new orders dropped to the lowest in a year and cost pressures intensified, a private survey said..
Consumer goods were behind most of the slowdown, recording considerably softer increases in sales, production, exports, input inventories and buying levels," said Pollyanna De Lima, economics associate director at S&P Global Market Intelligence..
The S&P survey pointed out that while business sentiment remained firmly inside positive territory, it slipped to a five-month low amid concerns surrounding the path for inflation and demand..
During October, growth eased to an eight-month low, weighed by competitive pressures and weak demand at some plants, the survey said, adding that the granular data highlighted a marked slowdown in the consumer goods sector..
. Nonetheless, 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," she added..
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