Manufacturing activity slows in July: Nikkei

New Delhi: The country’s manufacturing sector activity moderated in July amid softer increase in output, new orders and employment, a monthly survey showed.

The Nikkei India Manufacturing Purchasing Managers Index (PMI) stood at 52.3 in July, down from 53.1 in June. This is the 12th consecutive month that the manufacturing PMI remained above the 50-point mark.

In PMI parlance, a point above 50 means expansion, while a score below denotes contraction.

Although modest, the latest improvement in the health of the manufacturing sector was the second-strongest after June. Domestic and export orders rose for the ninth straight month in July.