PMI mfg edges lower to 57.7 in July

New Delhi: Manufacturing sector activities in India moderated for the second straight month in July as rates of expansion in output and new orders eased slightly, a monthly survey said on Tuesday.

The seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ Index (PMI) eased to 57.7 in July from 57.8 in June. Despite the fall, the Indian manufacturing sector maintained strong growth momentum at the start of the third quarter amid ongoing buoyant demand, the survey said. The July PMI data pointed to an improvement in overall operating conditions for the 25th straight month.