India’s manufacturing growth continues to dwindle, coming in at 3.5 percent in the December quarter, government data released on February 28 shows.
Though the factory activity was better than 2.1 percent in the previous quarter, it was sharply lower from 14 percent growth in the year-ago period.
High-frequency data shows that the economy continued to struggle with anaemic manufacturing growth in the third quarter.
Despite the festival season, manufacturing PMI declined to a four-quarter low of 56.8 compared with 57.4 in the previous quarter.
The index of industrial production numbers also indicated a slow down. In the first six months of the year, growth slowed to 4 percent from 6.3 percent in the previous year.
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