Gold Silver Reports (GSR Team) – India Manufacturing Growth Slows Again In March — Growth in India manufacturing sector slowed again in March as both output and new orders fell to its lowest pace since October, according to an industry benchmark.
The Nikkei India Manufacturing Purchasing Managers’ Index, or PMI, fell to 51.0 in March from 52.1 in February. A reading above 50 indicates growth while below 50 points toward contraction.
The slower growth reflects “weaker gains in new businesses and a decline in employment for the first time in eight months,” said Aashna Dodhia, economist at IHS Market, which compiles the survey. It marginally downgraded its GDP forecast to 7.3% for fiscal 2018 year.
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On the other hand, Dodhia said the “impact of US tariffs on steel and aluminium on India is expected to be limited” as India’s exports of both metals to the U.S. “accounted for less than 0.4% of total merchandise exports.” – Neal Bhai Reports (NBR) India
