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Investing.com -- India’s manufacturing sector experienced a slowdown in growth during May, reaching a three-month low, according to a survey released on Monday.
This deceleration was due to a combination of softer demand, price pressures, and geopolitical tensions. Despite this, the country witnessed a record high in job creation.
The country’s economy expanded by 7.4% in the last quarter compared to the same period a year earlier.
The HSBC India Manufacturing Purchasing Managers’ Index (PMI) (INPMI=ECI), which is compiled by S&P Global, recorded a decline in May.
The index fell to 57.6 from 58.2 in April, coming in lower than an initial estimate of 58.3.
However, it remained well above the 50.0 threshold, indicating that the manufacturing sector is still experiencing growth, albeit at a slower pace.
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