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Investing.com -- India’s manufacturing sector expansion lost momentum in September, with the HSBC India Manufacturing Purchasing Managers’ Index (PMI) falling to 57.7 from August’s 59.3, according to a survey released Wednesday.
The September reading, compiled by S&P Global, marked the slowest improvement in operating conditions since May, representing a four-month low.
The final figure also came in below the preliminary reading of 58.5 that had been previously reported.
Despite the slowdown, the manufacturing sector continued to show strong expansion, as readings above 50 indicate growth in the sector.
The survey revealed that factory gate prices surged at their fastest rate in nearly 12 years as manufacturers worked to offset mounting input costs. This sharp increase in prices manufacturers charge their customers reflects the ongoing cost pressures facing India’s industrial sector.
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